Property risk surveys
Property risk surveys can assist with your insurance coverage and premiums
Property owners are increasingly challenged by the increasing costs of insurance premiums, obtaining reasonable insurance terms or retaining insurance coverage. Property risk surveys can assist by demonstrating proactive risk management, continuous improvement and corrective actions which will assist with due diligence and informing risk evaluations.
We conduct property risk surveys to showcase risk management
We conduct property risk survey reports to validate what risk controls are in place in the areas of business operations, asset protection, public liability and workplace health and safety. Our reports are comprehensive, targeted, timely and affordable
Demonstrating effective risk management supports positive insurance outcomes
Property risk surveys play an important role for business owners, commercial property owners and insurers in determining risk and liability exposures, informing risk evaluations, informing insurance terms and providing property owners with an opportunity to demonstrate effective risk management of their assets.
Insurance brokers and insurers are increasingly requesting property risk surveys
Property risk surveys for commercial properties and assets are increasingly being requested by insurance brokers and insurance companies to accompany insurance renewals and quotation requests.
The current insurance landscape has seen a spike in catastrophic claims globally which has forced a hard insurance market. In simple terms, this means that insurers have re-evaluated the risks they are prepared to underwrite and in some cases have completely withdrawn from some sectors.
This has also placed an increased level of rigor and assessment on property and asset owners risk management practices and exposures, this is where property risk surveys play an important role.
Showcasing risk management practices
This highlights two important factors for business owners and commercial property owners:
- Having sound risk management provisions in place for business, people, property and assets; and
- Proactively demonstrating or “showcasing” these risk management provisions (compliance, risk controls etc)
An independent property risk report can assist all parties with understanding the property risk profile as it provides a number of key benefits:
- Targets key areas of risk (relevant to the business, property, insurance)
- Validates risk controls (elimination, reduction, mitigation)
- Identifies risk vulnerabilities and exposures (absence of controls, gaps in controls, noncompliance)
- Recommendations to address risk vulnerabilities and exposures (corrective actions, risk controls, compliance requirements)
Where businesses and commercial property owners have sound risk management provisions in place, the property risk survey will formally capture and report on this. Where risk exposures are identified, the property risk survey will provide recommendations to assist with addressing vulnerabilities and exposures.
Our risk survey management program:
Property risk audits form part of our insurance risk survey and management program which includes (but is not limited to):
- Property risk
- Business risk
- Operational risk
- Business interruption
- Asset protection
- Public safety and liability
- Workplace health and safety
- Thermal imaging and diagnostics
- What we look at
The way we conduct risk surveys:
Our approach for conducting property risk surveys includes information gathering, review of compliance processes and documentation, risk control validation and a physical inspection (site visit) of the property.
The property risk surveys are comprehensive and typically capture:
- Property, building or facilities
- Physical conditions and workplace practices
- Plant and equipment
- Security systems and infrastructure
- Fire equipment, systems and compliance
- High-risk areas, equipment or activities
- Business interruption and continuity
Our property risk audit report includes observations, risk controls, exposures and recommendations to address risk vulnerabilities.
The survey content and structure is aligned to Australian standards for risk management, work health and safety regulatory requirements and industry structures includin COPE structure (construction, occupancy, protection and exposure).
A simple process to conduct your property risk survey:
We keep the process simple so that we can conduct our property risk assesments efficiently, effectively and comprehensively:
- We arrange a date and time that suits you for a site visit to conduct the risk survey.
- We request and review preliminary information and documentation in preparation for the site visit.
- We conduct the risk survey during the site visit including physical inspection, risk information gathering, documentation citation and risk control validation.
- We provide a risk inspection report capturing observations, risk controls, exposures and recommendations to address risk vulnerabilities.
Leadership is risk, safety and management consulting
Simplifyrisk has worked with some of Australia’s most prominent organisations including the Australian Grand Prix Corporation, Netball Australia and the Australian Red Cross.
Our ability to simplify the complex, facilitate change and tailor our approach to our clients’ needs is what we are known for and the reason our clients continue to engage us.
Our staff are seasoned risk management, health and safety and management consulting professionals having worked across a wide range of business sectors for over 15 years.
Sector experience includes:
- Government
- Insurance
- Agribusiness
- Major events and sports
- Tourism and hospitality
- Marketing and entertainment
- Not-for-profit and community
- Telecommunications
- Assets and facilities
- Manufacturing
- Roads and infrastructure
- Construction
In addition to this, we are recognised for our ability to facilitate and deliver comprehensive business risk survey services to private, commercial and insurance entities.
Our portfolio of business risk surveys and property risk surveys have captured:
- Workshops and fabrication
- Manufacturing
- Warehousing and storage
- Tourism, recreation and sports
- Commercial properties and tenancies
- and more…..
We pride ourselves on being flexible, affordable and timely in what we deliver.
Get in touch to arrange your property risk survey
Contact Simplify risk on 0417 895 215 or email ryankellen@simplifyrisk.com.au to discuss our services in more detail or to arrange a property risk survey.
More information and testimonials
If you would like more information, please get in touch. If you would like to see what other organisation have to say about working with Ryan and the Simplifyrisk team, refer to our testimonials page https://simplifyrisk.com.au/client-testimonials/