Property Risk Evaluation Survey

Businesses may find it difficult to obtain a Property Policy that is most suited to their assets without a methodical and tailored approach to providing the relevant property information to underwriters. The lack of quality data may affect an insurer’s willingness to provide coverage for property risks and consequential business interruption exposures. It may also influence the policy terms and price of the coverage.

With a Marsh Property Risk Evaluation survey, you’ll gain an understanding of your organisation’s property risks onsite, your onsite risk mitigations and recommendations for improvement. This will be provided to insurers to give them confidence about the property risks onsite and how they are managed. Other benefits include:

Provides the confidence that you are satisfying your disclosure by informing your underwriter of material property risks
Puts your organisation in a strong position to manage the expectations of a property insurer by identifying, quantifying and highlighting management action for hazardous risks
Presents an accurate and thorough profile of the insured property
Creates a better position to obtain broader coverage terms and a competitive price
Provides a better understanding of the opportunities which may exist to mitigate risks, improve your organisation’s risk profile and potentially save money when purchasing insurance

What's involved?

The Property Risk Evaluation survey will review the following aspects of your organistion’s assets:

Operations conducted at each of the properties and the potential hazards that they present
Construction and occupancy of buildings
Strategies for managing plant and maintenance risks
Fire risk and protection installations
Security arrangements
Exposures (e.g. natural perils)
Other management procedures which reduce risk

The property underwriting information will be collected by one of our Property Risk Consultants by formally inspecting your property and interviewing appropriate personnel within your organisation.

Following these assessments, a Property Risk Evaluation report will be prepared for submission to underwriters. This report will include any recommendations your organisation has agreed to implement to reduce potential loss exposures. All recommendations will be presented in a prioritised action plan to assist you with their implementation. Quantified business cases may also be developed where considered necessary.

Who should participate?

Risk and Insurance Managers
Facility and Asset managers
Property Managers

How it is delivered

Onsite property inspection and interviews (can all be done virtually if required).