Risk Management

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Risk Management

Baseline Risk Assessments

General assessment of the exposures attendant to an operation, and the measures implemented/lacking in controlling these identified exposures. The main areas covered include fire risk, plant/property maintenance, employee health and safety, security, and environmental pollution.

Baseline Risk Assessments

This is the assessment of a specific exposure, as required by the client. For example, a client may require an analysis of the adequacy of the existing firefighting systems. This may arise at the instigation of the Factories Inspectorate, or management having identified some shortcomings in the existing systems.

Underwriting Survey and Maximum Possible Loss

  • Extrapolation

This survey is aimed at collecting underwriting information, to be used for insurance purposes. The information includes production processes, attendant risks, and the determination of the worst possible loss that can possibly occur at a premises.

  • Post Loss Assessments

This is conducted after a loss at the client’s premises. The aim of this is two fold:

(i) To understand the circumstances leading to the loss, and thereby recommend possible ways to minimize chances of similar occurrences.

(ii) To update the insurer/reinsurer of circumstances around the loss, so that the claim can be expedited in a timely manner. 

  • Risk Management Training

This is aimed at improving risk management awareness to senior management and operational staff, and is meant to enable implementation of risk management practices in-house.

  • Disaster Recovery Planning (Business Continuity Planning)

This attempts to ensure minimal disruption to business operations after the occurrence of any of the risks identified at the operation. This involves listing all possible loss scenarios, and for each of these anticipate the possible outcome and possible ways to best manage this outcome.