Camelot Seminar Manchester - Tony kelly
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Transcript of Camelot Seminar Manchester - Tony kelly
MARSH RISK CONSULTING 1 09 October 2013
Understanding The Risk – Vacant Properties
• Attract unwanted attention
• Can fall into disrepair
• Fire
• Flood
• Theft
• Vandalism
• Squatting
MARSH RISK CONSULTING 2 09 October 2013
Implications
• Insurers class as high risk, therefore high premium
• Effective risk mitigation can reduce this hike in premium
• Still have ‘duty of care’ to protect visitors on site, welcome or not
• Effective ‘mothballing’ will allow quick reinstatement
• Well maintained sites are easier to market
• Clients require reassurance
• Good risk management avoids negative publicity
• Values are maintained
MARSH RISK CONSULTING 3 09 October 2013
So - what do we do?
MARSH RISK CONSULTING 4 09 October 2013
Tell your insurer
• Becoming vacant is a significant
change
• This change is a ‘material fact’
• Vacant premises are viewed as ‘high
risk’
• Probability of loss increases
• Focussed risk management is
required
MARSH RISK CONSULTING 5 09 October 2013
Risk Mitigation
• Assess the specific risks
• Evaluate relevancy
• Implement mitigation plans
• Measure effectiveness
MARSH RISK CONSULTING 6 09 October 2013
Security
• Ensure the property is secure
• Lock all openings
• Seal all letterboxes
• Account for all keys
• External doors must have BS3621
mortice deadlocks
• Consider boarding up doors and windows
MARSH RISK CONSULTING 7 09 October 2013
Prevention & Protection
• Isolate all services where possible
• Drain plumbing
• Leave sprinklers, fire detection, CCTV & intruder alarms in service
• Protect systems remaining live from extreme weather
• Employ water ‘leak detection’ technology
MARSH RISK CONSULTING 8 09 October 2013
Eliminate
• Clear all combustible materials internally
and externally
• Remove all items considered attractive to
thieves
MARSH RISK CONSULTING 9 09 October 2013
Guarding
• Review your security arrangements
• Ensure an appropriate level of security is
maintained as agreed with your insurer
MARSH RISK CONSULTING 10 09 October 2013
Regular Inspection
• Inspect the property daily if possible, or at
least weekly
• Inspect all internal and external areas
• Inspect using a specific checklist
• Keep a detailed log of all visits
• Keep a log of all deficiencies
• Rectify all deficiencies promptly
MARSH RISK CONSULTING 11 09 October 2013
Summary
• Risk management / new acquisition surveys
• Risk ‘Health Checks’
• Business Resilience
• Corporate Defence (Risk Management)
• Project Review
• Sprinkler design and Request For Tender generation
• Valuation
• Training
…..and if so, please get in touch!
Please think about whether you need assistance with: