US7027992B2
Expired / Lapsed
US
⏱️ 0.0 years remaining
Method and computerized system for reducing risk in an energy industry
Assignee: ACE INA Holdings Inc
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Filing: 2001-03-20
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Granted: 2006-04-11
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Expires: 2021-03-20
Abstract
Abstract A method and computerized system for reducing risk actually assumed by at least one of a plurality of parties, wherein at least one of the parties supplies electric power to at least one other of the parties, and if an unplanned at least partial failure to supply the electric power occurs, at least one of the parties assumes the risk. The method includes designating at least one factor associated with the supplying of electric power and for determining whether an unplanned at least partial failure to supply the electric power that occurs is a qualifying event; designating a compensation which will at least partially reduce the risk actually assumed by the at least one of the parties assuming the risk if the unplanned at least partial failure to supply the electric power occurs and is determined to be a qualifying event; and, establishing a relationship between the at least one of the parties assuming the risk and at least one other party. The at least one other party agrees to provide the compensation to the at least one of the parties assuming the risk if the unplanned at least partial failure to supply the electric power occurs and is determined to be a qualifying event.
Inventors
- 👤 Edward Zaccaria
- 👤 David Hoog
- 👤 David Fromer
- 👤 Mark Mayers
- 👤 Dennis Kane
- 👤 Kurt Husar
- 👤 Gary Hawk
- 👤 Paul O'Neill
Bibliographic Details
Application Number
—
Jurisdiction
US
Data Source
google_patents
Last Synchronized
2026-11-09 14:23
CPC Classifications
G; G06; G06Q; G06Q40/00; G06Q40/08; G06Q10/00; G06Q10/06; G06Q10/063; G06Q10/0635
Claims Analysis
Total Claims: 40
Claim 1
Independent Claim
291 words
A computer programmed method for reducing risk actually assumed by at least one of a plurality of parties, wherein at least one of said parties supplies electric power to at least one other of said parties, and if an unplanned, non-catastrophic at least partial failure to supply adequate electric power occurs, at least one of said parties assumes said risk, said method comprising: calculating via a computer program at least one factor associated with said supplying of electric power, wherein, based on the at least one factor, said computer program determines whether an unplanned inadequacy of supply of said electric power that occurs upon a non-catastrophic event is a qualifying event; designating by the computer program of at least one cost offset compensation range and at least one additional power compensation range which will simultaneously at least partially reduce said risk actually assumed by said at least one of said parties assuming said risk if said unplanned inadequacy occurs and is determined to be a qualifying event; establishing within the computer program a relationship between said at least one of said parties assuming said risk and at least one other party, wherein said at least one other party agrees to provide said compensation ranges to said at least one of said parties assuming said risk if said unplanned inadequacy occurs and is determined to be a qualifying event; and, issuing an insurance policy from a computer associated with the computer program wherein said compensation ranges are provided at the time of said unplanned inadequacy; and wherein at least one of the parties supplies electric power to at least one other of said parties, and if said unplanned inadequacy occurs, at least one of said parties assumes a majority of said risk.
Claim 2
Dependent Claim
291 words
A computer programmed method for reducing risk actually assumed by at least one of a plurality of parties, wherein at least one of said parties supplies electric power to at least one other of said parties, and if an unplanned, non-catastrophic at least partial failure to supply adequate electric power occurs, at least one of said parties assumes said risk, said method comprising: calculating via a computer program at least one factor associated with said supplying of electric power, wherein, based on the at least one factor, said computer program determines whether an unplanned inadequacy of supply of said electric power that occurs upon a non-catastrophic event is a qualifying event; designating by the computer program of at least one cost offset compensation range and at least one additional power compensation range which will simultaneously at least partially reduce said risk actually assumed by said at least one of said parties assuming said risk if said unplanned inadequacy occurs and is determined to be a qualifying event; establishing within the computer program a relationship between said at least one of said parties assuming said risk and at least one other party, wherein said at least one other party agrees to provide said compensation ranges to said at least one of said parties assuming said risk if said unplanned inadequacy occurs and is determined to be a qualifying event; and, issuing an insurance policy from a computer associated with the computer program wherein said compensation ranges are provided at the time of said unplanned inadequacy; and wherein at least one of the parties supplies electric power to at least one other of said parties, and if said unplanned inadequacy occurs, at least one of said parties assumes a majority of said risk.
Claim 3
Dependent Claim
15 words
The method of claim 1 , wherein said risk is an at least financial risk.
Claim 4
Dependent Claim
13 words
The method of claim 2 , wherein said compensation comprises supplying substitute power.
Claim 5
Dependent Claim
12 words
The method of claim 2 , wherein said compensation comprises financial compensation.
Claim 6
Dependent Claim
22 words
The method of claim 4 , wherein said financial compensation is at least partially dependent upon a market price for replacement power.
Claim 7
Dependent Claim
27 words
The method of claim 5 , wherein said financial compensation is further at least partially dependent upon a price for power supplied between said plurality of parties.
Claim 8
Dependent Claim
36 words
The method of claim 1 , wherein said established relationship between said at least one of said parties assuming said risk and said at least one other party caps said compensation provided by said other party.
Claim 9
Dependent Claim
16 words
The method of claim 1 , wherein said at least one factor comprises a power capacity.
Claim 10
Dependent Claim
18 words
The method of claim 8 , wherein said at least one factor further comprises a power capacity deductible.
Claim 11
Dependent Claim
16 words
The method of claim 9 , wherein said power capacity deductible is an aggregate capacity deductible.
Claim 12
Dependent Claim
72 words
The method of claim 1 , wherein said at least one factor comprises at least one factor selected from the group consisting of: designating particular electric power generation or transmission equipment, designating one or more points of delivery, designating a coinsurance percentage of said risk, one or more counter-party performances, a price of power, a type of failure to supply said electric power, a deductible, and one or more periods of time.
Claim 13
Dependent Claim
47 words
The method of claim 1 , wherein said establishing said relationship between said at least one of said parties assuming said risk and said at least one other party comprises said other party establishing an obligation to said at least one of said parties assuming said risk.
Claim 14
Dependent Claim
18 words
The method of claim 1 , further comprising establishing at least one exclusion to said compensation being provided.
Claim 15
Dependent Claim
22 words
The method of claim 1 , wherein said at least one exclusion comprises an exclusion associated with a price of replacement power.
Claim 16
Dependent Claim
19 words
The method of claim 1 , wherein said one of said parties supplying said electric power is a utility.
Claim 17
Dependent Claim
20 words
The method of claim 1 , wherein said one of said parties supplying said electric power is a power re-marketer.
Claim 18
Dependent Claim
20 words
The method of claim 1 , wherein said one of said parties supplying said electric power is a load aggregator.
Claim 19
Dependent Claim
17 words
The method of claim 1 , wherein said qualifying event comprises a failure of electric power transmission.
Claim 20
Dependent Claim
17 words
The method of claim 1 , wherein said qualifying event comprises a failure of electric power generation.
Claim 21
Dependent Claim
20 words
The method of claim 1 , wherein said qualifying event comprises a failure to perform an underlying power supply contract.
Claim 22
Dependent Claim
15 words
The method of claim 1 , wherein said qualifying event comprises a control area intervention.
Claim 23
Dependent Claim
22 words
The method of claim 18 , 19 , 20 or 21 , wherein an unplanned outage is associated with said qualifying event.
Claim 24
Dependent Claim
22 words
The method of claim 18 , 19 , 20 or 21 , wherein an unplanned derate is associated with said qualifying event.
Claim 25
Dependent Claim
34 words
The method of claim 1 , wherein said establishing said relationship between said at least one of said parties assuming said risk and said at least one other party comprises establishing an insurance policy.
Claim 26
Dependent Claim
33 words
The method of claim 1 , wherein said relationship established between said at least one of said parties assuming said risk and said at least one other party expires after a given time.
Claim 27
Dependent Claim
303 words
A computer-readable medium comprising computer-executable instructions for preparing a contingent benefit conferring obligation for reducing an actual risk assumed by a risk assuming at least one of a plurality of parties, wherein at least one of said parties supplies electric power to at least one other of said parties, and if an unplanned, non-catastrophic at least partial failure to supply adequate electric power occurs, said risk assuming at least one of said parties actually assumes said risk, said computer-executable instructions comprising: instructions for designating data indicative of at least one factor associated with said supplying of electric power and for identifying if an unplanned at least partial failure to supply said adequate electric power which occurs after a non-catastrophic event is a qualifying failure; instructions for designating data indicative of a compensation which will at least partially reduce said assumed risk, wherein said compensation includes at least supplying additional electric power and a simultaneous payment for offsetting costs of said supplied additional electric power, if an unplanned at least partial failure to supply said electric power occurs and is determined to be a qualifying failure; and, instructions for generating at least one document associated with said contingent benefit conferring obligation at least partially dependently upon said designated data indicative of at least one factor and said designated data indicative of said compensation; wherein, said benefit conferring obligation is between said risk assuming at least one of said parties and at least one other party, and wherein said at least one other party agrees to provide said compensation to said risk assuming at least one of said parties if an unplanned at least partial failure to supply said adequate electric power occurs and is determined to be a qualifying failure, immediately upon occurrence of said at least partial failure to supply adequate electrical power.
Claim 28
Dependent Claim
303 words
A computer-readable medium comprising computer-executable instructions for preparing a contingent benefit conferring obligation for reducing an actual risk assumed by a risk assuming at least one of a plurality of parties, wherein at least one of said parties supplies electric power to at least one other of said parties, and if an unplanned, non-catastrophic at least partial failure to supply adequate electric power occurs, said risk assuming at least one of said parties actually assumes said risk, said computer-executable instructions comprising: instructions for designating data indicative of at least one factor associated with said supplying of electric power and for identifying if an unplanned at least partial failure to supply said adequate electric power which occurs after a non-catastrophic event is a qualifying failure; instructions for designating data indicative of a compensation which will at least partially reduce said assumed risk, wherein said compensation includes at least supplying additional electric power and a simultaneous payment for offsetting costs of said supplied additional electric power, if an unplanned at least partial failure to supply said electric power occurs and is determined to be a qualifying failure; and, instructions for generating at least one document associated with said contingent benefit conferring obligation at least partially dependently upon said designated data indicative of at least one factor and said designated data indicative of said compensation; wherein, said benefit conferring obligation is between said risk assuming at least one of said parties and at least one other party, and wherein said at least one other party agrees to provide said compensation to said risk assuming at least one of said parties if an unplanned at least partial failure to supply said adequate electric power occurs and is determined to be a qualifying failure, immediately upon occurrence of said at least partial failure to supply adequate electrical power.
Claim 29
Dependent Claim
16 words
The computer-readable medium of claim 26 , wherein said risk is an at least financial risk.
Claim 30
Dependent Claim
14 words
The computer-readable medium of claim 27 , wherein said compensation comprises supplying substitute power.
Claim 31
Dependent Claim
13 words
The computer-readable medium of claim 27 , wherein said compensation comprises financial compensation.
Claim 32
Dependent Claim
23 words
The computer-readable medium of claim 29 , wherein said financial compensation is at least partially dependent upon a market price for replacement power.
Claim 33
Dependent Claim
28 words
The computer-readable medium of claim 30 , wherein said financial compensation is further at least partially dependent upon a price for power supplied between said plurality of parties.
Claim 34
Dependent Claim
16 words
The computer-readable medium of claim 26 , wherein said benefit conferring obligation caps said compensation provided.
Claim 35
Dependent Claim
17 words
The computer-readable medium of claim 26 , wherein said at least one factor comprises a power capacity.
Claim 36
Dependent Claim
19 words
The computer-readable medium of claim 33 , wherein said at least one factor further comprises a power capacity deductible.
Claim 37
Dependent Claim
17 words
The computer-readable medium of claim 34 , wherein said power capacity deductible includes an aggregate capacity deductible.
Claim 38
Dependent Claim
21 words
The computer-readable medium of claim 26 , wherein said benefit conferring obligation includes at least one exclusion to compensation being provided.
Claim 39
Dependent Claim
23 words
The computer-readable medium of claim 36 , wherein said at least one exclusion comprises an exclusion associated with a price of replacement power.
Claim 40
Dependent Claim
19 words
The computer-readable medium of claim 26 , wherein the benefit conferring obligation is effective for a given time period.
References Cited (Backward Citations)
USPTO Annuity & Maintenance Windows
| Annuity Stage | Window Opens | Payment Deadline | Surcharge Period Until | Estimated Fee | Status |
|---|---|---|---|---|---|
| 3.5 Years (Year 4) | 2009-04-10 | 2009-10-10 | 2010-04-11 | $2000.00 | Window Closed / Lapsed |
| 7.5 Years (Year 8) | 2013-04-10 | 2013-10-10 | 2014-04-11 | $3760.00 | Window Closed / Lapsed |
| 11.5 Years (Year 12) | 2017-04-10 | 2017-10-10 | 2018-04-11 | $7700.00 | Window Closed / Lapsed |