Building Vulnerability and Risk Qualification Assessment
When considering options for locating their operations, corporations must consider local building codes and standards, or a lack thereof, as they can create several unforeseen risks, especially when faced with an unpredictable event.
Catastrophes, such as the factory collapses, illustrate how sudden and significant catastrophic events can result in employee injury or death, in addition to the disruption of business. The destruction of property can strike with little prior notification – from a natural hazard such as an earthquake or fire or an accident caused by a person, whether a chemical spill/explosion or the failure to maintain a property to code.
Companies occupying affected buildings, whether a branch of a multinational corporation or a partner business, may then be faced with business interruption risks, workers’ compensation claims, regulatory compliance issues, and issues relating to corporate image, all of which can put a company out of business.
Marsh Advisory's Property Risk Consulting Solutions can help multinational organizations evaluate and qualify their property risk exposures and understand vulnerabilities to employees and operations. Our team of experts can also assist by providing detailed identification, assessment, and mitigation consulting solutions, enabling organizations to better define and qualify the risk. Armed with this information and these solutions, senior executives can then determine the most appropriate risk management and mitigation strategies for their business, no matter the geography.
Given the diversity of regulations, codes, and standards encountered when operating around the world, Marsh Advisory's experts work with multinational organizations to set baseline global standards against which global properties can be evaluated. Our team evaluates the risks that can impact a corporation’s or its partners’ buildings, occupants, and operations. We conduct a vulnerability assessment, which includes both the physical aspects of the buildings as well as a review of emergency response systems, programs, resources, and procedures in place. This can be done for owned or leased properties, including those used by suppliers, vendors, or other partners.
We tailor our solutions to meet your specific property and safety risk management and mitigation objectives. We accomplish this by:
- Establishing a client-specific baseline building qualification standard.
- Conducting a site review against the baseline building qualification standard for existing locations and as part of a pre-selection review for locations being considered for purchase or lease.
- Performing vulnerability reviews of buildings and locations that can focus on natural hazards risks, fire/explosion risks, terrorism risks, toxic chemical release risks, and more.
- Using loss estimate modeling or more complex loss simulations projections to provide the analytics needed to support corporate decisions.
- Evaluating the strengths and weaknesses of the fire and life safety aspects of buildings.
- Reviewing and evaluating emergency response training.
- Reviewing local emergency response capabilities.
- Providing risk ranking metrics to effectively make decisions around occupying or making improvements to buildings or operations.
Marsh Advisory provides corporate leaders with information based upon set standards and processes in an executive assessment report that summarizes and documents the evaluation results and conclusions. By using this assessment, senior management can make more informed decisions, understanding the risks that may not have been fully explored in the past.
Furthermore, the evaluation can uncover business continuity, crisis management, or workforce risks and opportunities for improvement that Marsh Advisory could assist with as part of the project.
Who It's For
Any multinational company worldwide that:
- Has employees located in offices and operations around the world.
- Has acquired or will be acquiring new businesses or operations.
- Is looking to rent, lease, or buy existing facilities.
- Outsources part, or all, of its manufacturing process.
- Has property in areas with high natural or other disaster risk.
- Is looking to establish and apply global, consistent standards for its occupied buildings and across its operations.
- Wants to ensure some level of equivalency to national and/or corporate codes and standards.
What You Get
- A detailed vulnerability and risk assessment that provides the information required to make informed decisions regarding the buildings you occupy or are considering to occupy, focused on those key risks most impactful to your operations and employees, such as fire/ explosion and natural hazards.
- Benchmarking information to measure overall risk improvement across your profile of locations and at individual sites.
- Information to execute a risk mitigation strategy globally.
- A repeatable process to document and support your assumptions, conclusions, and methodology for evaluating the buildings you occupy.