Magazine article Risk Management

AIR Brings Cat Expertise to the Masses

Magazine article Risk Management

AIR Brings Cat Expertise to the Masses

Article excerpt

One refrain that is almost universal among risk managers is the fact that insurers rarely understand--or at least rarely acknowledge via premium rates-their organizations' unique risks. But in many cases, these same risk managers themselves fail to fully understand the nuts and bolts of the key operational factors that pose the largest threats. Particularly when it comes to the structural risks of their industrial facilities, there is often a disconnect between how vulnerabilities are perceived between those sitting behind a desk running the numbers and those walking the floor running the facility.

To help bridge this divide, AIR Worldwide has launched its Catastrophe Risk Engineering practice, from which the company will send one of its structural engineers to conduct a detailed assessment of how any disaster could damage every lever, pipe and wall in a facility. Often, the identification of such threats is based on speculation and generalities, where as it takes a thorough walk-through and a detailed checklist to truly gauge the unique risks posed to the facility.

Especially as risk managers try to ensure proper mitigation in the face of declining budgets, there may be many benefits to seeking AIR's external expertise, which includes earthquake/ wind engineering services, post-event damage assessment and repair development. …

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