Property loss for automotive

Property Loss Control for the Automotive Industry

Reduce hazards to keep downtime to an absolute minimum

Reduce hazards to keep downtime to an absolute minimum

Reduce Risk Exposure at Your Facility

There are approximately 30,000 parts in a single vehicle – from engines and tires to the nuts, bolts, and screws. The supply chain is intricate, and the manufacturing process is complex.

Thousands of employees must work in harmony using dangerous equipment. One accident can lead to fire, injuries, and death. The resulting business interruption can be long and expensive. Automation and digitization in the industry make its risks even more complex.

Fire prevention, supply chain monitoring, battery storage, boiler and machinery safety, and equipment maintenance are crucial to keeping your plant up-and-running.

The largest auto manufacturers in the world partner with TÜV SÜD Global Risk Consultants for property loss control and risk engineering. We also work with the largest makers of component parts like glass and semiconductors. Our engineering team is always ready for a conversation about the unique risks in your facility.

In the automotive industry, TÜV SÜD Global Risk Consultants has delivered the following results:

  • $32.2 billion in loss estimate reduction since 2003 
  • 20,894 recommendations to improve risk management processes since 2003 
  • 6,258 facility inspections since 2012 

Fire Risks in the Automotive Industry

The threat of fire is ever-present inside plants that make automobiles and component parts. With complex machinery and heavy equipment, it’s crucial that risk managers, engineers, and facilities managers unite to make fire prevention a top priority.

Some fire threats include:

Dust hazards. Research and development facilities are prone to dust hazard because they make molds and other materials using sand, steel, and fine metals.

Paint technologies. Paint booth operations are a critical bottleneck. With flammable materials and sophisticated technology, paint operations require a nearly clean room environment. A fire in this area would place production at a standstill.

Glass furnace fires. Glass production requires sophisticated furnaces. At those facilities, fire is the most important risk to mitigate.

Battery storage. New technology like lithium-ion batteries promise a future with cleaner energy. But they also come with new risks. A puncture can give off toxic, flammable gases such as hydrogen.

More Property Loss Control Risks

Aging equipment. Life-cycle management is critical to ensuring that equipment does not break down or become obsolete.

Cybersecurity. Cyberattacks are becoming more common and increasingly dangerous. Hackers are targeting major manufacturers of all kinds, including automakers. Losses and public relations problems can add up quickly. On the road, connected and autonomous cars with  GPS and Bluetooth are leaving drivers more vulnerable to cyberattacks.

Supply chain. From the Fukushima tsunami to current semiconductor shortages, supply chain issues loom large for the automotive industry. Automakers must understand every level of their supply chains to prevent disruptions.

Safety hazards. The safest manufacturers not only have less accidents and injuries, but also less unscheduled downtime. 

Property Risk Assessment and Consultation

Risk assessments come with a range of services and attempt to uncover plenty of risks. Some services include:

Fire protection. A risk assessment will analyze your facility’s risk of fire. Engineers will examine equipment, storage, and processes to help you determine where fire risks are most present. Engineers will also analyze fire protection systems like alarms and sprinklers.

Boiler & machinery. Engineers will analyze all boilers and help establish preventative and predictive maintenance programs.

Asset management reliability. The machinery and equipment used in your production must be assessed for reliability. Engineers can examine how well assets are being maintained, life expectancy, and identify processes that keep them running smoothly.

Code and product services. Engineering partners can help keep your facility up to code on everything from fire alarms to electric safety. They can solicit bids from vendors and ensure projects get completed safely.

Trust TÜV SÜD GRC For Property Loss Control

Quality and experience of engineers. Our team of engineers sets the industry standard for excellence. They are thorough, sharp, and constantly learning about new trends in the industry.

Independence. TÜV SÜD Global Risk Consultants are leaders in unbundled property loss control coverage that’s never tied to insurance and underwriting. Rather than relying on insurance companies to assess risks with an underwriting lens, trust risk engineers who provide an independent assessment. Our detailed reports and consultative partnership put you in a powerful negotiating position when it’s time to secure coverage.

Data. You get all risk engineering and assessment information in a comprehensive risk report. With us, you own your data, not insurance companies.

A wide variety of services. Our array of services makes TÜV SÜD GRC a one-stop shop for all property loss control needs. We offer assessments for:

Global reach in the auto market. Our parent company TÜV SÜD is a global leader in the automotive industry, offering laboratory and real-world testing to make sure vehicles are safe and reliable. We do crash simulations, rattle tests, and electronics testing to ensure vehicles are ready for market. Our connections and knowledge of the industry are unmatched.

Risk engineering puts the power of true risk management in your hands. Comprehensive reports from TÜV SÜD GRC give you options on how to handle risks. You can buy insurance, absorb loss potential in-house, or make capital improvements. The freedom for sophisticated risk management is yours.

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