Enhancing business continuity management capacities in the insurance industry : a Southeast Asian perspective

As a resilience enhancing practice, business continuity management (BCM) can play an important role in aiding preparation of the insurance industry for coping with the losses incurred by major discontinuity incidents: regardless of cause. Acknowledging the increasing frequency of unpredictable man-made disasters and natural catastrophes, the insurance industry would benefit from examining and implementing, where suitable, key elements of BCM. Such strategic decisions would assist insurers and re-insurers collectively to enhance mutual capability to respond to, and recover from, the impact of significant losses. This paper presents a comparison of opinions about BCM practitioners in both retail and re-insurance companies on the importance of generic continuity practices with actual levels of BCM practice across the two industry groups in Southeast Asia. It suggests means by which multi-lateral cooperation across Asian economies and between retail and re-insurance market segments might enhance the viability of the insurance industry in the face of increased stress from major natural and socio-technical hazards.

Fault diagnostics and supervised testing : How fault diagnostic tools can be proactive?

The topic of fault detection and diagnostics (FDD) is studied from the perspective of proactive testing. Unlike most research focus in the diagnosis area in which system outputs are analyzed for diagnosis purposes, in this paper the focus is on the other side of the problem: manipulating system inputs for better diagnosis reasoning. In other words, the question of how diagnostic mechanisms can direct system inputs for better diagnosis analysis is addressed here. It is shown how the problem can be formulated as decision making problem coupled with a Bayesian Network based diagnostic mechanism. The developed mechanism is applied to the problem of supervised testing in HVAC systems.

Application of machine learning in fault diagnostics of mechanical systems

A diagnostic method based on Bayesian Networks (probabilistic graphical models) is presented. Unlike conventional diagnostic approaches, in this method instead of focusing on system residuals at one or a few operating points, diagnosis is done by analyzing system behavior patterns over a window of operation. It is shown how this approach can loosen the dependency of diagnostic methods on precise system modeling while maintaining the desired characteristics of fault detection and diagnosis (FDD) tools (fault isolation, robustness, adaptability, and scalability) at a satisfactory level. As an example, the method is applied to fault diagnosis in HVAC systems, an area with considerable modeling and sensor network constraints.

Floods, earthquakes and insurance coverage : issues, problems and solutions

The recent floods in Queensland and elsewhere in Australia as well as the recent earthquakes in New Zealand have again given rise to very significant uninsured losses. This article looks at the issue of cover protection against catastrophes such as floods and earthquakes affecting home buildings and contents insurance and the standard cover provisions of the Insurance Contracts Act 1984 (Cth). It points also to the possibility of a national scheme to cover natural disasters including floods.

Insurance and the law of negligence : an influential or irrelevant persuader?

This article examines, from both within and outside the context of compulsory third party motor vehicle insurance, the different academic and judicial perspectives regarding the relevance of insurance to the imposition of negligence liability via the formulation of legal principle. In particular, the utility of insurance in setting the standard of care held owing by a learner driver to an instructor in Imbree v McNeilly is analysed and the implications of this High Court decision, in light of current jurisprudential argument and for other principles of negligence liability, namely claimant vulnerability, are considered. It concludes that ultimately one’s stance as to the relevance, or otherwise, of insurance to the development of the common law of negligence will be predominately influenced by normative views of torts’ function as an instrument of corrective or distributive justice.

Fault isolation in distributed generation connected distribution networks

Protection of a distribution network in the presence of distributed generators (DGs) using overcurrent relays is a challenging task due to the changes in fault current levels and reverse power flow. Specifically, in the presence of current limited converter interfaced DGs, overcurrent relays may fail to isolate the faulted section either in grid connected or islanded mode of operation. In this paper, a new inverse type relay is presented to protect a distribution network, which may have several DG connections. The new relay characteristic is designed based on the measured admittance of the protected line. The relay is capable of detecting faults under changing fault current levels. The relay performance is evaluated using PSCAD simulation and laboratory experiments.

Analysis of electromagnetic forces in high voltage superconducting fault current limiters with saturated core

This paper presents a three-dimensional numerical analysis of the electromagnetic forces within a high voltage superconducting Fault Current Limiter (FCL) with a saturated core under short-circuit conditions. The effects of electrodynamics forces in power transformer coils under short-circuit conditions have been reported widely. However, the coil arrangement in an FCL with saturated core differs significantly from existing reactive devices. The boundary element method is employed to perform an electromagnetic force analysis on an FCL. The analysis focuses on axial and radial forces of the AC coil. The results are compared to those of a power transformer and important design considerations are highlighted.

Sensor fault-tolerant observer applied in satellite attitude control

The observing failure and feedback instability might happen when the partial sensors of a satellite attitude control system (SACS) go wrong. A fault diagnosis and isolation (FDI) method based on a fault observer is introduced to detect and isolate the fault sensor at first. Based on the FDI result, the object system state-space equation is transformed and divided into a corresponsive triangular canonical form to decouple the normal subsystem from the fault subsystem. And then the KX fault-tolerant observers of the system in different modes are designed and embedded into online monitoring. The outputs of all KX fault-tolerant observers are selected by the control switch process. That can make sense that the SACS is part-observed and in stable when the partial sensors break down. Simulation results demonstrate the effectiveness and superiority of the proposed method.

Incentivising private health insurance through the income tax regime : Capitalising on behavioural models

The Australian income tax regime is generally regarded as a mechanism by which the Federal Government raises revenue, with much of the revenue raised used to support public spending programs. A prime example of this type of spending program is health care. However, a government may also decide that the private sector should provide a greater share of the nation's health care. To achieve such a policy it can bring about change through positive regulation, or it can use the taxation regime, via tax expenditures, not to raise revenue but to steer or influence individuals in its desired direction. When used for this purpose, tax expenditures steer taxpayers towards or away from certain behaviour by either imposing costs on, or providing benefits to them. Within the context of the health sector, the Australian Federal Government deploys social steering via the tax system, with the Medicare Levy Surcharge and the 30 percent Private Health Insurance Rebate intended to steer taxpayer behaviour towards the Government’s policy goal of increasing the amount of health provision through the private sector. These steering mechanisms are complemented by the ‘Lifetime Health Cover Initiative’. This article, through the lens of behavioural economics, considers the ways in which these assorted mechanisms might have been expected to operate and whether they encourage individuals to purchase private health insurance.