Learning from Industry Losses: AEGIS Review of Major Liability Losses
AEGIS was originally formed by our members to provide mutual protection against major liability losses. That protection comes not only in the form of risk transfer, but also in sharing lessons learned to better understand the causes of loss and what can be done to mitigate them. Since forming in 1975, AEGIS has paid out over $10 billion in Excess Liability claims to our members. While our membership will never prevent 100 percent of incidents from occurring, there are some key lessons learned and model practices that can be implemented to help limit the frequency of occurrence.
For each claim submitted by a member, AEGIS Loss Control completes a thorough review to better understand the circumstances leading up to the incident, what occurred during and after the event, and to capture any lessons learned that we can share with others. We then select claims to use as the basis for our Review of Major Liability Losses (RMLL) publications. RMLLs are short narratives that identify key information or events contributing to an incident, as well as the lessons learned. They provide valuable information on the nature and significance of losses associated with electric and natural gas utility operations, and are best used in conjunction with a utility’s operating and engineering programs and procedures.
While the industry can’t prevent all incidents from occurring, as a mutual we have a duty to learn from events that have occurred in our industry, and do as much as possible to share our knowledge to help prevent similar incidents from happening in the future. We encourage you to review all of our RMLLs, located in the Loss Control section of AEGISlink.com. You will need a username and password to enter – if you don’t have one, use the Request Access button on the popup screen.
AEGIS will be hosting a webinar on the Review of AEGIS Major Liability Losses, on April 5 at 2:00 pm EDT. We invite our members to join us to learn more about the many ways to use this valuable resource. For more information, or to register for this webinar, contact Michelle Battagliese by e-mail or at 201.508.2855.
If you have any questions about our RMLLs or how they can be incorporated into your utility’s risk management program, please contact Laura Strowbridge by e-mail.
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