Title: Designing a new insurance policy for industries to cover losses due to voltage sag

Authors: Shankar Deep; D.K. Jain; Surender Dahiya

Addresses: Electrical Department, DCRUST, Murthal, Haryana, India ' Electrical Department, DCRUST, Murthal, Haryana, India ' Electrical Department, DCRUST, Murthal, Haryana, India

Abstract: With the growth of industries, quality and reliability of power supply is most important factor. It is the responsibility of energy service provider to supply uninterrupted and fault free power to the consumers. They should have to insure the damage to the property of consumers due to power disturbances mainly due to voltage sag. This paper proposes a new insurance policy to cover the losses occur due to voltage sag in the industries by calculating expected number of trips using Poisson distribution method.

Keywords: voltage sag; ITIC curve; CBEMA curve; Poisson distribution; insurance premium; insurance policies; financial losses; power disturbances; power supply.

DOI: 10.1504/IJBCRM.2015.075769

International Journal of Business Continuity and Risk Management, 2015 Vol.6 No.2, pp.112 - 120

Received: 13 Jun 2015
Accepted: 21 Sep 2015
Published online: 04 Apr 2016 *

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