Property risk engineering

Risk management engineering is the process of identifying problems in industry that could lead to worker injuries, property damage, accidents, and downtime. Global Risk Consultants Corp. (GRC) has risk management engineers that identify processes in need of improvment, assess machinery and equipment breakdown, and determine a facility’s ability to withstand and manage perils like fire, natural disasters, chemical spills, human error, and other accidents.

What is property loss control?

Property loss control engineering develops a plan to reduce the risk of property damage and downtime. Successful solutions will mitigate risks of machinery breakdown and give company leaders insights to develop business continuity plans.

What is an unbundled risk assessment?

An unbundled risk assessment is a comprehensive analysis that gives insights into a facility’s exposure to a wide variety of risks. The risk analysis is never tied to insurance or underwriting and is carried out by independent, third-party engineering experts.

Why should I unbundle risk assessments from insurance?

Unbundled risk assessments offer an independent, consultative analysis of a company’s risks. Risk report solutions from third-party experts help companies to make strategic, data-driven decisions. This reduces their risk exposure and helps them shop for appropriate insurance coverage and negotiate premiums with underwriters.

Property risk engineering helps companies reduce the possibility of catastrophic and expensive issues such as fire, machinery breakdown, electrical fire hazards, human error, and weather events. Property risk engineering reports deliver insights that help you to train workers on safety protocols, ensure compliance with regulatory standards, and create comprehensive risk management programmes.

Property risk engineering reports help you work with underwriters to get the best possible insurance terms and conditions. Insurance carriers and brokers around the globe trust Global Risk Consultants’ reports as comprehensive guides to loss prevention. Our team also uses their expertise to work directly with broker and carrier partners on a variety of loss prevention solutions.

GRC’s world-class expertise reduces your risk of property losses and accidents. Our property risk engineering services identify dangerous risks and offer loss prevention recommendations that help you develop and manage successful risk management insights and strategies.

GRC offers a wide range of services to help identify and reduce risks, setting you up for a successful insurance placement. Our property risk engineering assessments for industry may contain the following:

• Arc-flash analysis - Ensure compliance with NFPA standards, and reduce risk of electrical explosions.
• Asset management and reliability process troubleshooting – Realise maximum operational and financial value from the business’ critical physical assets.
• Boiler and machinery engineering – Reduce your risk of machinery breakdown with preventative and predictive maintenance, attaining spare parts and developing contingency plans.
• Boiler and pressure vessel inspections – Conduct jurisdictional inspections of pressure vessels to prevent catastrophic damage and stay compliant with government regulations.
• Climate change assessments – Assess risks of storms, sea level rise, drought, floods, and more while satisfying EU Taxonomy and ESG reporting and related climate action requirements.
• Dust hazard analysis – Identify and evaluate fire and explosion hazards due to combustible particulate solids like flour, grain, and charcoal etc.
• Electrical safety audits – Address electrical hazards with comprehensive training and inspection services.
• Fire protection engineering – Manage exposure to fire and explosion risks to reduce potential property damage and comply with increased regulatory activity.
• Infrared thermography – Use non-destructive testing to detect abnormal temperatures, diagnose problem areas, and determine severity of electrical and mechanical problems.
• Natural hazards analysis – Evaluate exposure to windstorms, earthquakes, flooding, wildfires, hail, and other natural hazards.
• Insurance asset valuation – Profit from impartial and accurate property insurance valuation even as markets change.
• Self-assessments – Analyse your own property loss control risks.