FM Global offices
During this session will discuss how an engineering process is used to identify, then mitigate the perils to which insured property and business can be exposed. Presentations, case studies and group activities will illustrate how risk engineering principles and a systems approach can be put into practice.
Firstly, we will examine how the COPE (Construction, Occupancy, Protection, Exposure) process is employed to identify and analyse physical risks from fire, natural hazards and machinery breakdown. Secondly, we will look at the quantification of risk by evaluating insured values, creating loss scenarios and developing loss estimates. We will discuss different loss expectancy models used within the insurance industry and compare their application with practical examples. Finally, we will discuss risk mitigation strategies, considering both physical and procedural solutions. We conclude by recognising the important role of change management processes to ensure that countermeasures intended to manage exposures remain up to date and effective.
Through participation in the workshop, delegates will examine each stage of the risk engineering process and identify areas relevant to their field which warrant further study. This workshop is intended for those who are either relatively new to risk management or working with property and business insurance programmes. Equally, it will also be of interest to those who are either undertaking or have involvement in risk improvement projects.
- Donovan Dos Santos: Account Engineer, London Operations
- Philip Innocent: Learning Specialist, London Operations