Practical examples are the best way to illustrate our services. Below is a real-life case, highlighting how we saved a business pounds!
Risk management in action
In April 2002 Zurich Risk Services visited their customer ABB Nailsea to conduct a risk assessment. During the assessment it was ascertained that the company was to shortly begin re-roofing the main building and the materials ABB planned to use for this were combustible.
Our risk analyst outlined his concerns regarding the choice of re-roofing material and persuaded the management to alter their plans and use non-combustible boarding. This alteration to the original specification cost an additional 25%.
In June 2002, whilst in the final stages of re-roofing the main building, the roofing contractor’s bitumen pot spilled over and ignited the roofing felt. Fire spread on the surface of the boarding but did not ignite the non-combustible boarding that Zurich had recommended. As a result the fire did not spread to the combustible wall cladding.
If the fire had spread to the wall panels, it would have engulfed the entire building spreading outside of the sprinkler protection. If this had occurred, total property damage and resultant business interruption would have cost ABB close to £30 million.
Kjell Hilding, ABB Group Risk Control Manager commented: "Zurich did an excellent job convincing the local management of the benefits of the extra expense. Their advice ultimately prevented the company from disaster. It took only half a day to repair the roof and there was practically no business disruption."