Insurance Risk Surveys

It can be challenging for property owners to obtain the best insurance policy to suit their assets. The lack of clear information available to the insurer/broker can deem a risk high or immeasurable, resulting in the inability to provide the most suitable cover, increased premiums, or adjusted policy terms.

By conducting an Insurance Risk Survey, also known as a Property Risk Survey, we will identify potential risks to the property and surroundings and how they may be affected by various scenarios such as fire, theft, flood, natural disaster, accidental damage, and more. We provide a comprehensive assessment outlining risks and recommendations, including photos for improvement where possible. This information can be presented to the insurer, giving them confidence about the property risks and their management.

Insurance Risk Surveys are of benefit to:

• Property Owners/Managers

• Facility and Asset Managers

• Insurance Brokers and Underwriters

• Self-Insured

• Insurers

Completing an Insurance Risk Survey involves utilising various approaches to ensure accurate completion. The survey is specifically tailored to each project, considering its unique characteristics.

Methods may include:

• Physical inspection of the premises
• On-site and desktop methods to determine risk
• Risk control validation and identification of gaps.

Typical areas of assessment may include:

• Building overview: purpose, staffing, contractors and contractor management, company history, building materials
• Hazmat: the presence of asbestos or other hazardous materials and gasses.
• Geographic location: assessments against natural disasters or similar
• Electrical: electrical systems, PAT Testing, RCD Testing, illumination
• Fires: Appliance testing, extinguishers, blankets and hose reels, sprinkler systems, evacuation plans, staff training
• Loss expectancy: scenarios based upon the operation of the site and external factors
• Criminal activity: security, theft, access, potential damage from intruders
• Public liability: Maintenance, inspections, incidents, first aid, staff training, alcohol policy

This list is not exhaustive. We will make recommendations specific to your industry, location, premises and company.

Survey Services’ Insurance Risk Reports are comprehensive, targeted, and affordable. They can aid property owners in obtaining the most suitable insurance policy for them whilst reducing exposure to both the property owner and the insurance provider. An Insurance Risk Survey demonstrates proactive risk management and gives the property owner the insights to complete various corrective actions.

Insurance brokers may request a risk survey before determining which risks they are prepared to underwrite. The request can occur for new quotes and renewals. It gives the property owner a better position to obtain broader coverage terms and a competitive price.

We have surveyors available nationwide, covering all states, metropolitan and regional Australia. To request a Survey or for more information, please complete our online form here or call us on 08 6491 9032.