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| Risk Report |
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The risk report is the product generated after one of Affiliated FM's loss control consultants visits an insured's location. This report details the property exposures identified at the location, provides a brief explanation of the hazard and offers up solutions to eliminate or reduce the exposures. So what should you do once you receive one of these reports?
- Read the report to familiarize yourself with the different exposures present at your insured's location. Read more.
Try to think in terms of how the exposure may affect the property insurance your client will need. For example, if there is a recommendation for Flammable Liquids, how might the release of these liquids during a fire result in pollution, contamination of product and debris removal? Work with your Production Underwriter to make sure you are comfortable with the levels of insurance being provided to your insured.
- Engage your Account Engineer in a discussion to completely understand the exposures and potential solutions to help your client reduce their exposures and protect the continuity of their business. Read more.
You have a strong understanding of your client's business and what's important to them. By understanding the exposure outlined in the report, you will be able to discus with your client the impact a loss from this exposure may have to their business beyond just property loss.
- If your client has several locations that receive visits from loss control consultants, review all of the risk reports and work with your Account Engineer and client to develop a plan to address the exposures that may have the biggest impact to your client's bottom line. Read more.
The amount of engineering data, exposures identified and recommendations made can become overwhelming. Your Account Engineer is able to help explain the different recommendations and will work with you and your client to identify which exposures may have the biggest impact to the client's bottom line. Once the exposures and potential impact to the business are understood, your Account Engineer will work with you and your client to develop practical, cost effective solutions that meet the clients risk tolerance levels.
- Review or have your local personnel review the report with the consultant engineer that writes the report. Read more.
You and your local personnel understand your business better than anyone. Question the consultant engineer to understand the identified exposures and associated recommendations. Many recommendations can begin to be resolved during the consultant's first visit.
- Engage your broker and Account Engineer to help you develop a plan to begin reducing your exposures and driving down your long term cost of risk. Read more.
The amount of engineering data, exposures identified and recommendations made can become overwhelming. Your Account Engineer and broker are able to help explain the different recommendations and will work with you to identify which exposures may have the biggest impact to your bottom line. Once the exposures and potential impact to your business are understood, your Account Engineer and broker will work with you to develop practical, cost effective solutions that meet your risk tolerance levels.
- Leverage the available resources made available to you to achieve risk improvement and lower your long term cost of risk. Read more.
Affiliated FM has a suite of resources available for your use such as:
- Your Account Engineer. This is the person that will help identify which resources may provide you the most value.
- Online Training
- Data Sheets
- Resource Catalog where you can order Hot Work permits, Red Tag permits, Understanding the Hazard brochures and much more.
- Webinars and Podcasts
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