Chubb's risk engineers take the time to understand each company so that they align risk mitigation strategies with the business needs. Evaluating the likelihood and consequences of risk is a crucial part of its assessments which are based on the methodology outlined in ISO 31000, Risk Management – Principles and Guidelines.
Chubb's risk advice considers:
Chubb offer risk benchmarking systems that are easy to understand and identify trends across multiple facilities. Risk benchmarking can be based on Chubb global requirements or agreed client standards. In addition, its clients risk benchmarking systems can be adopted to ensure full integration with existing Enterprise Risk Management programs.
Chubb's general liability risk engineering services are designed to address premises liability exposures to minimise loss severity and frequency for various industries. These services include:
Chubb has a comprehensive understanding of general liability risks. Its experienced risk engineers with deep industry and technical knowledge can share best practices to help you mitigate potential losses.
Chubb Risk Engineering Services can assist clients in managing risk by providing short term and long term risk solutions to assure your success as a business and property owner. Chubb risk engineers apply their advanced skills in property conservation to help identify potential causes of loss and their impact on your bottom line. Its risk engineers also have hands-on experience with fire protection systems of all types, which afford clients unparalleled client service.
Chubb's property conservation services go beyond basic property protection to include:
Chubb risk engineers work with many businesses to improve products liability risk management within their organisation. In today’s complex world, managing risk is a necessity for any business. Whether you are a manufacturer, exporter, distributor, building owner or service provider, liability risk exposures may be present.
Chubb's risk management services are designed to promote product safety and minimise a company’s potential for products liability claims. Its worldwide network of experienced staff can assist you in benchmarking your risk management programs and identify opportunities for improvement. Chubb works with risk managers to review and evaluate the functional aspects of their organisations to minimize likelihood and impact of products liability losses. These services include:
Product quality and safety through your supply chain is also an important risk management concern. It is up to the manufacturer or importer to ensure food quality and safety, including intentional supplier adulteration. This type of ‘trust but verify’ model should be adopted across all industries that are reliant on suppliers. Chubb Risk Engineering has the expertise to assist with evaluation of your supply chain risk.
Among other topics, Chubb offers education programs on:
Contingent Business Income
The world continues to become smaller as globalization fuelled by the Internet has made it far easier to drive commerce across geographies. The result is in an ever-expanding supply chain. It’s common knowledge that raw materials, components, and finished products are sourced from all over the world. This results in less control for an importer or manufacturer and subsequently more risk.
Risk managers may take for granted their complex supply chain until something catastrophic occurs. As was evidenced in the Kobe and Fukashima Japanese earthquakes, there was a widespread and sustained disruption in supplies across many industries. Therefore, the ability to recognize who makes up your supply chain ecosystem, map the level of criticality in terms of bottlenecks and supplier reliance, and implement appropriate business continuity controls is crucial.
Global economies, natural catastrophes, and climate change impacts have never strained business supply chain resiliency more. Businesses that recognize the ever growing threats to their supply chain, and seek ways to strengthen it, will better ensure a stable and healthy bottom line. Chubb Risk Engineering has the expertise to help you to identify your risks, understand the issues, and implement best practices.
Workers Compensation / Employers Liability
Chubb's risk engineers help to reduce or eliminate risk factors in the workplace that can contribute to occupational illnesses or injuries. The identification and mitigation of the causes of these injuries and illnesses contributes to savings of workers compensation expenses and reduces the indirect costs associated with workplace accidents. Among the areas of collaboration are:
Chubb provides equipment breakdown risk engineering services for a variety of businesses, ranging from real estate to complex manufacturing. Its risk engineers conduct detailed risk analysis associated with a wide range of industries and market segments. They are trained to identify potential exposures and risk factors associated with machinery and electrical equipment as well as providing solutions on how to mitigate the cost of repairs and downtime to the facility.