CIB Insurance initiates client protection with risk management programme
Taking client protection that extra step further, CIB Insurance is including a Risk Management Programme to their commercial line policies, ensuring that clients are protected against health and safety infringements, thereby reducing possible hazards.
CIB initiated the Risk Management Programme with the understanding that no two risks are the same; the programme is therefore specifically designed to suit the requirements of each individual client and the hazards associated with the clients' business practices. Surveys are undertaken by qualified risk managers to determine the specific risks of each client, the results of which are submitted to both the broker and the client.
The CIB Risk Management Programme differs from a standard risk survey as it covers a much wider spectrum of possible hazards. The survey includes:
* Hazard identification (current hazards as well as potential hazards)
* Adequacy of fire fighting equipment (servicing and compliance with legislation)
* Housekeeping and stacking principals
* OSHACT compliance (including an analysis of documentation and compliance e.g. certificates for overhead cranes, vessels under pressure tests etc)
* General compliance with local municipal by-laws and The National Building Regulations
* Electrical installations (identify hazards, making note of certificates of compliance)
* Adequacy of computer instillations (are backups made, is there adequate protection in terms of UPS systems etc.)
* Security (including a general audit of security systems)
The results of the survey are discussed with the client and a time frame is allocated to the various tasks required to mend the problems creating the risks. Also, the risk manager is available for all queries regarding legislation and will work alongside the client on improving hazardous areas by offering the information needed to improve the company's risk, as well as a list of outside companies that could be used to help with the areas of risk.
"At no time will CIB force the client to make use of any outside company, CIB are purely there to supply the client with possible solutions to problem areas" says Neil Harvey Head of CIB's risk management, "We will assist the client as much as possible in implementing the various procedures, however the final choice and implementation of these requirements, rests on the clients' shoulder".
Depending on the severity of the risk, follow up inspections are carried out weekly, monthly, quarterly, bi-annually or annually, with the follow up inspections documented, and the results thereof shared between the client, broker and insurance underwriter.
The CIB Risk Management Programme also includes a safety audit once a year, with a complete and thorough inspection regarding the health and safety of employees, fire fighting procedures and security procedures. The safety audit results in a rating that is supplied to the client with which the client can gauge their compliance against various legislations, as well as against the companies own policies and procedures manual.
