Risk Management

Risk Management

For a growing business in today's globalized world, having a robust risk management process is vital. Businesses are required to work towards creating continuous preventive measures to avoid risks results in monetary loss to the company. A business's functioning can be interrupted due to economic, natural, and political conditions, low profits, accidents caused by human error through a chemical spillage/exposure or the failure to perform maintenance on key installations.

Businesses associated with any industry can be exposures to risks classified into various categories – production safety, supply chain integrity, personnel protection, and environmental hazards.

Risk Assessments

Our teams of risk engineers help organizations identify and quantify their risk exposures. This activity includes a detailed risk analysis of the vulnerabilities to their personnel and operations. Right after carrying out a site inspection, our team prepares a comprehensive report highlighting the detailed identifications and risk mitigation strategies.

Scope of Work
  • Conducting a site review for existing locations of a company as well as the locations that have been identified for purchase or lease, prior to occupation.
  • Carrying out vulnerability review for the location against natural hazard risks, fire/explosion, and exposure from neighbouring industries.
  • Verifying the adequacy and maintenance of fire and life safety aspects installed.
  • Using loss estimate projections to provide the analytics needed for insurers’ decision making.
  • Reviewing and evaluating the emergency response measures.

Thermography

Electrical hazards are the highest-ranked causes of fire origins in manufacturing units like factories. To protect businesses from financial losses caused by fire accidents, we at Pinc Insurance advise our clients to take preventive measures by regular site inspections. One such preventive tool is known as thermography. Thermography is a technique of analysing the thermal characteristics of an object from its infrared image captured through a non-contact thermal imaging device. Thermal imaging helps industries identify possible areas where they could face electrical failures, such as failure of electrical insulation, terminals, and related components. It can also expose employees to live electrical circuits, making them susceptible to injury or death from electrocution.

Scope of Work
  • Thermal scanning for all terminations within LV electrical installations.
  • Identification of hotspots (higher temperature points).
  • Categorization of each hotspot against NFPA and NETA standards.
  • Deduction of the probable reasons for the hotspot and recommendations to ensure that the risk is mitigated.

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