Our email newsletter offers timely insight into preparedness topics of interest.
Risk Management
Preparedness, LLC has more than 30 years of experience in risk management and property loss prevention working in a Fortune 500 corporate risk management department, for a major HPR property underwriter, and a large international insurance broker. We have experience in dozens of industries and facilities around the world. We understand the challenges faced by corporate risk managers, the requirements of insurance underwriters, and the cyclical nature of the marketplace.
Loss Prevention Surveys & Audits
We survey facilities, assess hazards, and offer recommendations for improved protection. We also develop strategies for protection of facilities based on national standards and company-specific business and risk management objectives.
We can evaluate the protection of your facility using “highly protected risk” standards of the insurance industry as well as national fire and life safety codes. We also evaluate loss prevention, emergency management, and business continuity plans.
We estimate loss potential and can compile COPE (construction, occupancy, protection, and exposure) data into an electronic database for marketing your property insurance program.
We also design and conduct audits, so you can benchmark performance of individual facilities, business units, or the entire organization.
Hazards Analysis
We live in a world with increasingly complex hazards—flammable and combustible liquids and gases, oxidizers, corrosives, and reactive materials. State of the art manufacturing processes involve sophisticated technologies and increasingly valuable equipment with little tolerance for downtime. Preparedness, LLC can assess the hazards of your operations, identify strategies to mitigate loss potential, and write detailed specifications for necessary protection.
Risk Management Information
Effective risk management decisions require detailed information easily accessible, updated, and understood. Preparedness, LLC provides and compiles information needed for effective risk management decision-making. We develop, host, and continuously update information in Microsoft Access, which easily exports into Microsoft Excel and other formats. Our database has numerous reports, queries, and modules including:
-
Statement of insurable values grouped or sorted by year,
country, or business unit - Facilities subject to flooding, earthquake or hurricanes
- Percentage of facilities protected to “highly protected risk” standards
- Risk and protection-based premium allocation model
- Identification of high valued facilities
- Protection recommendations grouped or sorted by division, business unit, facility, loss expectancy, or type
Our database enables quick identification of poorly protected facilities; deficiencies that pose large-loss potential; or human element recommendations that require management attention. This information identifies facilities worthy of capital investment and enables focused attention on critical facilities to prevent losses.
Insurance Underwriter Involvement
Preparedness, LLC can work with you and your property underwriters in many ways. Our loss prevention surveys follow a format recognized by the international property insurance markets. We can present a picture of the quality of your risk to the insurance marketplace or we can focus on individual facilities of interest to underwriters.
We can help you manage the property loss prevention services provided by an underwriter or third party. We can help you spend your loss prevention budget wisely by determining the facilities that warrant inspections. We can write service instructions so inspectors coordinate inspections with local management, evaluate the risk using your company policies, procedures, or standards, and prepare reports that meet your needs. We can also review reports, evaluate and prioritize recommendations, and compile all information into our property protection database.
Click here to download our services brochure, or click on these links to learn about our risk assessment, prevention/mitigation, emergency management, and business continuity services.