Property Risk Management

Let’s develop a property protection plan for your organization.

Can you prevent a crisis from becoming a catastrophe?

Consider what would happen if your business experienced a major fire, a natural disaster, civil unrest, an act of sabotage or terrorism. In addition to property losses, think about how your organization’s revenue and market share could be affected if your operation is forced to shut down. The aftermath could be devastating to you, your organization and your people.

Without a proactive plan to manage your property risk, the future of your organization could be at stake.

Contact a HUB advisor to get started.

More detail

An action plan for your organization

Our risk services advisors can partner with you to:

Evaluate hazards that could affect property and operations
Develop property risk management and compliance plans
Manage internal audit and inspection processes
Devise comprehensive analysis and testing strategies
Appraise real property replacement costs
Evaluate warning and protection systems
Train management and employees on emergency preparedness
Develop business continuity and disaster recovery plans
Assess cyber security and develop procedural controls

Contact a HUB advisor to get started.

A growing cause for concern.

90%

of all declared disasters involve flooding — and such events are becoming more severe throughout the country, according to the U.S. Federal Emergency Management Agency.

What you need to know

Earthquake Safety

Regardless of where you live in North America, the possibility of an earthquake is real. In areas that are particularly vulnerable, it is even more crucial to prepare so that you can reduce the risk of property damage or personal injury.

Flood Emergency Response Planning for Your Business

Major storms and flood disasters have the potential to destroy property, take lives and cripple businesses. How well you're able to protect your property depends on how well you know your risks and what you do before, during and after such a catastrophe.

Hurricane and Storm Preparedness for Your Business

Extreme weather calls for extraordinary measures. You can protect your business and prepare for potential claims by following these steps before and after a hurricane or storm hits.

Winter Weather Loss Prevention for Businesses

Freezing temperatures, ice and snow bring added property risks to your operations. Winter weather hazards can be responsible for property damage, injuries to employees and damage to fleet operations. With these factors in mind, loss prevention is crucial to minimizing claims and managing your company’s total cost of risk. Learn more about winter weather loss prevention by following these guidelines:

General Liability

One of the most significant loss leaders in business is the risk of slips, trips and falls (referred to collectively as “STFs”). Winter hazards greatly increase the likelihood of STF claims. A significant challenge with premises liability is that your organization cannot control the actions or choices of the general public (such as using proper winter footwear). Even so, it is critical to do everything in your control to reduce the risk of STF injuries. In addition to standard day-to-day prevention measures, proactive snow/ice management is vital.

Property

Snow accumulation and cold temperatures bring the potential for roof collapse and freezing pipes. Older buildings may be more susceptible to roof collapse due to stress over time. Newer building codes also typically include larger safety factors for roof loading.

Building construction also affects snow load capacity. Poured concrete buildings usually have much higher load-bearing capacity compared with wood- or steel-framed structures. And solar panels add weight that actually reduces a roof’s snow load capacity.

Freezing water pipes are a concern in all buildings and especially those that are vacant or have unoccupied spaces. Severe winter storms may damage equipment, disrupt utilities and break windows. If sub-freezing temperatures remain for extended periods of time, these conditions may lead to domestic and/or fire sprinkler pipe breakage.

Fleet Safety

Hazardous road conditions caused by winter weather often create traffic delays, closed roadways and vehicular accidents. According to data published by the U.S. Department of Transportation Federal Highway Administration, poor-weather-related driving conditions are associated with significant increases in crashes, injuries and fatalities — all of which could affect your auto and commercial fleet insurance rates and workers’ compensation costs.

At the very least, inspect and service all vehicles prior to winter’s arrival. It can also be helpful to conduct meetings with drivers to address winter driving concerns and emergency preparedness protocols.