Risk Assessment and Claims

Risk Assessment

- Selection of appropriate Insurance Policy

- Selection of additional Covers

- Type of Indemnity

- Declaration of proper Values

- Deciding adequate Indemnity Period under Business Interruption

- Analysis of Warranties/Conditions

Risk Management- Underwriting Factors

House Keeping

Construction

Protection

Arson / Malicious Damage

Exposure

House Keeping

House Keeping

Construction

Buildings

Fire Resistive (Mainly RCC with certain mix and has ability to sustain fire for at least 2 hours)

Non- Combustible ( Steel structures and Br. Masonry)

Combustible (Wood, thatched sheds, tarpaulins etc) & Use of combustible false ceiling

Special features

Passive fire protections

Physical Separation

Construction cntd..RCC/ Asbestos/ Open sided

Construction cntd..False Roofing/ Combustible

Protection

Availability, adequacy & reliability of any Fire extinguishers, Hydrant system or other systems and also Water supply.

Availability of Security personnel as well as their knowledge and expertise to fight a fire.

Availability of automatic detection systems

If ware house – availability of the key/ power control/location of extinguishers at the entrance.

Fire Extinguishing media in tune to the material being stored in the ware house

Protection

PROXIMITY TO PUBLIC FIRE BRIGADEWhether a fire brigade can reach within 20 minutes

Protection

Protection

• FIRE DETECTION and ALARM SYSTEM

Arson & Malicious Damage

Surveillance to protect the assets from insiders and outsiders.

CCTV

Intrusion Alarm

Access control

Protection

Adequate additional measures like CCTV, access control, being in place

Exposure

Distance/ proximity to the nearest building

Exposure from the existing units/ buildings depending upon their occupancies and inherent hazards.

The gradient of the exposing building to that of exposed building.

Exposure

Production block

Storage

Fuel tank

Generator and substation

Utilities

Office

Exposure

.

Positive aspects of the Unit

Intension to Change – then

now - 6 months after Inspection

Suggestions on Claims

Claim Intimation/Settlement

- Delay in intimation

- Delay in submission of Documents

- Coverage not found appropriate

- Inadequate Values

- Slavage Disposal

- Deductibles

Thanks