Risk engineering is about identifying and quantifying the hazards companies are exposed to and assessing the likelihood of these hazards causing damage
Chubb’s considerable property risk engineering and technical expertise supports a variety of industry sectors, including retail, financial institutions, electronics, telecommunications, metal fabrication, hospitality, healthcare, educational institutions, leisure and entertainment, printing, real estate, transportation and large and medium sized manufacturing risks amongst others.
In addition to carrying out property risk engineering inspections to identify, quantify and evaluate the hazards and risks you are exposed to, and developing pragmatic risk improvement solutions, the risk engineers also have the specialist skills to offer a wide variety of added-value services. These can range from full spectrum gap analysis of corporate property risk standards to business interruption reviews, supply chain and NAT CAT analysis.
Depending on your risk engineering requirements, Chubb can also provide property related benchmarking programmes and reports, enabling you to build and nurture property risk management awareness within your organisation. Benchmarking can also be used to compare global risk management performance across a portfolio of properties or operating units. If appropriate, it can also be used to establish cost effective priorities and in premium allocation across operating units to promote risk improvement.
Working with you, Chubb will also undertake regular “Stewardship” reviews to ensure the agreed programme, reports and procedures reflect your current risk management requirements and philosophy. A stewardship report is then provided to measure the level of success of a loss prevention programme.
The Chubb property risk engineering expertise is well known and valued in the insurance industry with a number of their engineers actively involved in external risk management bodies.
Our goal is to help our clients mitigate their risks by creating long-term property solutions. Our solutions are created to fit with our clients’ business operations to identify and reduce or remove causes of loss and the impact on the bottom line.
The primary aim of our risk engineering services is to help you to manage your risk. We encourage open communication and are happy to work to agreed standards. Our codes and standards are based on:
We employ a consultative approach with our clients and prospect clients as we understand that whilst risk improvements can be achieved for little or even no cost, there may be a need to budget for capital expense improvements. Often, short term solutions can be applied to reduce the level of risk to an acceptable level within the process of broader, long-term plans.
Our risk engineers possess the flexibility to apply engineering judgment in offering alternative solutions which meet your needs. We will work with you to derive a solution that works for you. It’s important that both long-term objectives and immediate needs are considered, with decision-making based on sound engineering principles.