Property Damage (Natural Hazards)
Scope:
- Risk assessment covers all property hazards caused by natural calamities, and can include consequential loss (Business Interruption - BI).
- Natural Hazard risk assessment is often done in combination with Property Loss Fire assessment.
- Assessment of all commercial/industrial property including single or multiple plants/locations.
- On-site service around the globe (excluding active war zones or areas where government travel restrictions are in effect).
- On request: desktop assessments based on available information.
- Notification of significant risk exposures requiring immediate attention, even if not included in the scope.
Deliverables:
A concise and comprehensive Risk Assessment Report comprising:
- description of risk
- the assessment of all relevant risk factors commonly used in the insurance and reinsurance industry or based on customized definitions
- clear and well defined loss scenarios (e.g., EML/PML; MFL; MPL)
- appraisal of existing protection systems intended to prevent or limit damage associated with natural hazards
- cost-effective measures that should be considered to prevent or reduce property damage associated with natural hazards
Benefits:
- Assessments and risk information accepted by the customer, as well as insurers and reinsurers.
- Cost-effective outsourcing of risk engineering activities.
- Independent, unbiased assessments to help client optimize insurance coverages.
- Opportunity to deepen client relationships and generate additional revenue streams via provision of new services.
- Opportunity to target new customer segments including new industry sectors as well as new geographies.