 Some of the biggest costs to businesses today come from property-related risks.
As organizations look to create value from rationalizing assets and streamlining supply chains — concentrating assets in the process — so these potential exposures increase. The effects of a badly managed property risk include business interruption, increased claims, damage to reputation and expensive insurance.
In addition, owners and landlords of commercial property are required to uphold a range of property-related regulatory standards to protect their property and the welfare of staff and the public in it.
This regulation requires them to undertake risk assessments and surveys to collate information on the exposures at sites and the adequacy of building design and materials to cope with risks such as fire.
More recent regulation, such as The Regulatory Reform (Fire Safety) Order place further burden of proof for adequate fire safety on the person responsible for the premises.
Critical questions you need to consider
- Are you confident that you have adequately assessed all of your property risks?
- Are you confident that you know what property-related risk is costing your organization?
- Does your Property Damage/Business Interruption claims history require you to develop more effective loss control strategies?
- What steps has your organization taken to ensure it meets its duties under new fire regulation?
- How does the quality of your risk management, level of claims and cost of insurance cover compare to similar organizations?
|
| Change selection(s) to sort. Sort by: |
May 01, 2013 | Views: 72 | Comments: 0 Models help organizations understand the relationship between vulnerable sites and the potential likelihood of impact from terrorist acts. Read More... November 09, 2012 | Views: 1098 | Comments: 0 The gusting winds, heavy snow, and freezing temperatures associated with winter are normal and often anticipated occurrences throughout most of the world’s cold weather climates. H... Read More... August 27, 2012 | Views: 572 | Comments: 0 |  As Isaac threatens the Gulf Coast, Marsh's property risk, forensic accounting, business resiliency, and crisis experts are poised to respond. Read More... July 27, 2012 | Views: 694 | Comments: 0 |  The planning and organization of any trip requires a high degree of care and preparation. Proper planning is especially important when young people are involved. The safety and wel... Read More... June 27, 2012 | Views: 636 | Comments: 0 |  Collectors are integral to the preservation of history. Thanks to them for their labour of love, for it is indeed a labour to ensure that their various works of art are adequately ... Read More... May 03, 2012 | Views: 1833 | Comments: 0 |  A Serious Issue Across North AmericaRecent headlines “‘Pervasive’ bedbug woes in U.S., survey finds” (www.msnbc.com, 1/12/2011) and “Bed bugs force Winter Games athletes to move” (... Read More... April 17, 2012 | Views: 745 | Comments: 0 We identify five major risk and insurance topics in the context of 2011 catastrophes. Read More... April 16, 2012 | Views: 1127 | Comments: 0 The Excellence survey gathered the views of 1,322 risk managers, top executives, and others. Read More... February 24, 2012 | Views: 868 | Comments: 0 Toxic mould has become a preeminent concern for property owners and managers. However, mould contamination can be prevented through measures that control moisture, and respond effi... Read More... February 23, 2012 | Views: 1613 | Comments: 0 | On February 15, 2012, risk, insurance and financial services specialists from Zurich Canada, HSBC Securities (U.S.A.) Inc. and Marsh Canada Limited held a one-hour Webcast to addre... Read More... |
| Change selection(s) to sort. Sort by: |
September 17, 2012 | Views: 2253 | Comments: 0 The Marsh Canada Educational Institutions Practice provides risk management solutions based on in-depth knowledge of the risk exposures facing educational institutions in Canada. Read More... |
| Change selection(s) to sort. Sort by: |
December 22, 2011 | Views: 1599 | Comments: 0 Although insurance rates in most loss-affected geographies and classes of business continued to climb during the fourth quarter of 2011, in other classes and regions rates generall... Read More... September 29, 2011 | Views: 1920 | Comments: 0 While catastrophe-exposed risks experienced tough insurance market conditions, pricing decreases in other lines of business fostered a stable environment over the past three months... Read More... July 10, 2011 | Views: 1914 | Comments: 0 Following the first quarter’s earthquake in New Zealand, floods in Australia, and earthquake, tsunami and nuclear disaster in Japan, the second quarter of 2011 brought more d... Read More... |
| Change selection(s) to sort. Sort by: |
November 08, 2011 | Views: 2573 | Comments: 0 | The earthquake, centered 44 miles east of Oklahoma City, was the largest on record in Oklahoma and was felt as far north as Wisconsin and as far east as South Carolina, according t... Read More... October 27, 2011 | Views: 3081 | Comments: 0 | Hurricane Rina is projected to bring heavy rainfall, winds, and flooding to eastern Mexico, Cuba, and possibly south Florida. M Read More... October 24, 2011 | Views: 2662 | Comments: 0 | Several hundred people were estimated to have been killed by the earthquake; several thousands of buildings have been damaged or destroyed. Read More... October 21, 2011 | Views: 3173 | Comments: 0 | The floods have affected more than two million people and caused major damage to infrastructure, including rail and road transport. Read More... August 26, 2011 | Views: 3021 | Comments: 0 | As of 5 am EDT on Monday, August 29, Irene was a post-tropical cyclone with its center approximately 100 miles northwest of Houlton, Maine, according to the U.S. National Hurricane... Read More... August 10, 2011 | Views: 2513 | Comments: 0 | Following recent violence in London and throughout the United Kingdom, Marsh produced this client adviser to assist affected organizations. Read More... June 03, 2011 | Views: 2605 | Comments: 0 | Multiple tornadoes hit western and central Massachusetts yesterday, destroying buildings, flipping vehicles, and causing deaths and injuries. Read More... May 25, 2011 | Views: 2530 | Comments: 0 |  A strong tornado struck Joplin, Missouri last week, killing more than 100 people and destroying more than 2,000 buildings, according to news reports. Read More... November 19, 2010 | Views: 2393 | Comments: 0 |  Soft commercial insurance market conditions are expected to persist through the fourth quarter of 2010, according to preliminary rate information published last week by Marsh. Read More... October 20, 2010 | Views: 1988 | Comments: 0 | Typhoon Megi hit northern Philippines earlier this week, with powerful winds, high waves, and heavy rains, according to the Joint Typhoon Warning Center (JTWC). The storm is expec... Read More... |
| Change selection(s) to sort. Sort by: |
April 23, 2013 | Views: 99 Marks fifth consecutive quarterly rise, though at a slower pace Read More... January 15, 2013 | Views: 489 US east coast storm not expected to be market-changing event Read More... October 05, 2012 | Views: 740 Renewal rates point to market stabilization in absence of major losses. Read More... April 16, 2012 | Views: 1459 An overwhelming majority of risk managers and C-suite executives agreed that expectations of the risk management function have increased in recent years. Read More... April 10, 2012 | Views: 1164 Global property insurance rates show signs of firming, according to Marsh's recent report, "Global Insurance Market Quarterly Briefing: Q1 2012." Read More... September 30, 2011 | Views: 1563 Despite significant insurance losses in the first half of the year, insurers have remained competitive but cautious. Read More... September 16, 2011 | Views: 1792 By applying a strategic approach to budgeting, organizations can ensure that the investments made in risk management—from insurance to mitigation to technology—are the right ones, ... Read More... July 20, 2011 | Views: 1981 Overall Canadian market conditions remain favorable across most lines through the end of the second quarter of 2011, but signs of a firming market are beginning to appear in segmen... Read More... July 12, 2011 | Views: 1766 Marsh Webcast July 20: Insurance Market Update Midyear 2011 Read More... July 11, 2011 | Views: 1692 The overall global insurance market remains well-capitalized and generally competitive despite major natural catastrophe (CAT) losses in the second-quarter of 2011, according to a ... Read More... |
|
|
|
|