A Site Risk Survey (SRS) is an "engineering" risk assessment. It helps you to identify risks and possible solutions relating to property, public liability, and business interruption.
An SRS evaluates your site’s risk profile at an asset and site-wide level, together with the activities and controls that manage those risks.
In particular, the SRS assesses the following areas:
- hazards (of natural, technological or man-made and operational origins)
- essential services
- risk management systems
- building services and equipment
- public safety.
Each area is assessed in detail to identify issues of concern and evaluate associated risk levels using our probability, consequence and risk matrices.
The benefits and importance of the our SRS program include:
- a reduction in future losses, which will positively impact future premiums
- assisting to purchase reinsurance protection economically
- providing estimates of expected maximum loss from a major peril such as fire and storm
- opportunities to provide recommendations for improvement of site or asset risks
- opportunity to share common findings between common asset types.
Our SRS program provides key stakeholders with a clear understanding of the property, public liability and business interruption risks of VMIA-insured sites across Victoria.
For more information about site risk surveys, email firstname.lastname@example.org.