Property Risk Survey

Process

The survey covers a full inspection of buildings, plant and outdoor areas together with interviews with facility management. It examines construction, occupancy, fire compartmentation, suppression systems and explosion protection, as well as organisational programmes such as hot work permits, maintenance and impairment management. Loss history and outstanding improvement recommendations are reviewed as well.

Methodology

Depending on complexity, techniques range from checklist-based reviews to formal hazard evaluation methods such as what-if analysis or relative ranking. From construction, occupancy, protection and exposure factors, risk engineers derive an overall assessment that results in a survey report with a hazard profile, protection concept and prioritised recommendations.

Relevance for underwriting

The survey report forms the technical basis for risk grading, capacity decisions, pricing and policy conditions. Material operational changes, a change of occupancy or an ageing initial survey typically trigger a re-survey in practice.