Patent ID: 7027992

Claim:
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.