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Designing Safety Regulations for High-Hazard Industries (2018) / Chapter Skim
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Summary
Pages 1-4

The Chapter Skim interface presents what we've algorithmically identified as the most significant single chunk of text within every page in the chapter.
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From page 1...
... These safety regulations are often scrutinized after an incident, but their effectiveness is inherently difficult to assess when their purpose is to reduce catastrophic failures that are rare to begin with. Nevertheless, regulators of high-hazard industries must have an informed and reasoned basis for making their regulatory choices.
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From page 2...
... Such an outcome would be particularly difficult to demonstrate for regulations that are intended to prevent catastrophic failures, given their complexity and rare occurrence. The regulations instead presume that consistent attention to organizational dynamics and emergent risks should reduce the probability of such failures, even if that reduction may not be provable empirically.
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From page 3...
... KEY OBSERVATIONS AND ADVICE The report is informed both by academic research and by insights from case studies of the regulatory regimes of four countries governing two high-hazard industries -- the pipeline and the offshore oil and gas sectors. The case studies show how safety regulators from different countries rely on a combination of highly targeted micro-level regulations and more flexible macro-level regulations, such as those requiring management systems.
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From page 4...
... As the case studies in the report show, regulatory regimes often contain a mix of regulation design types, rather than a single type, to address the objectives underlying safety regulation. Regulators should therefore consider whether the best approach to the achievement of their regulatory goals may be to combine various regulatory approaches.
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Key Terms

  • safety regulations
  • regulatory regimes
  • regulatory decision
  • highly targeted
  • require firms

  • regulation design
  • offshore oil
  • performance outcomes
  • design types
  • regulatory interventions

  • regulatory approaches
  • alternative regulatory
  • safety regulation
  • underlying safety
  • regulatory goals

  • various regulatory
  • own internal
  • safety risks
  • regulations instead
  • management regulations

  • firms discretion
  • organizational dynamics
  • risk analysis
  • addressing risks
  • specific contributors

  • help regulators
  • commonly accepted
  • policy criteria
  • considerable latitude
  • countries governing


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