Risk Services

HomeWhat We DoRisk Services

Our aim is to help manage and reduce all your risk and insurance costs.

We will work with you to ensure that improvements in your risk profile reduce your overall cost of risk, including the cost of insurance and uninsured losses.

Loss Prevention Services

Examples of loss prevention services available are:

Strategic Risk Assesment

Lockton can support you in the strategic risk assessment of your key threats including the creation of:

  • Risk Registers
  • Business Risk Management Training Workshops
  • Strategic Risk Appraisal (evaluation of the key  risks to the organisation).

We have developed a tool which analyses and captures key risk exposures and ranks them in terms of frequency and severity, using standard or client-specific metrics.The tool also highlights clients’ internal controls and captures areas for further review and investigation.

Business Continuity Management (BCM)

We can assist you in the creation of:

  • Business Impact Analysis
  • Preparation and Auditing of Business  Continuity Plans
  • Business Continuity Management Training  Workshops.

Today your customers often demand reassurance that your BCM will be effective whilst your insurers are also increasingly focused on this in underwriting key exposures.

Property Loss Control & Business Interruption

Our consultant specialists provide an accurate risk profile of your business with detailed reports covering construction, occupancy hazards, protection & management systems and exposures, including:

  • Fire risk assessments
  • Site Underwriting Surveys
  • Loss Estimates (EMLs) – market definitions
  • Business Interruption reviews
  • Fire protection engineering – sprinklers etc

Health & Safety

Our health & safety specialists can work with you to reduce the frequency and cost of losses by:

  • Designing and implementing Safety  Management Systems
  • Preparing Health and Safety Policies, and Safe  Working Procedures
  • Conducting Risk Assessments including  specific issues e.g. COSHH, Manual Handling.

Training Seminars & Workshops

Our risk experts offer bespoke training seminars and workshops on a range of topics including:

  • General Safety and Fire Safety Awareness
  • Manual Handling
  • Risk Assessment Training
  • Accident Reporting and Investigation
  • Directors’ Safety Courses.

Analytical Services

Analysis of losses is an integral part of the Risk Management process. Services provided include:

Claims Analysis

Claims data is collated from various sources and tailored to your particular requirements. Our claims analysis helps identify where your risk management investments will have the most impact.

Our detailed claim reports identify loss frequency, loss ratios and common causes, enabling us to discuss emerging trends with you and identify and offer solutions.

Risk Retention Analysis

Our approach is built on a two-tier methodology that uses statistical and financial modelling techniques to evaluate the most cost-effective risk financing solution for an organisation.

FAST

Financial Analysis Stress Test (FAST) identifies and stress tests an organisation’s ability to accept and retain risk in an affordable sense, without materially prejudicing its financial position in any one year.

AREA

Advanced Risk Exposure Analysis (AREA) is a statistical method that analyses and interprets an organisation’s historical loss data.

Captive Feasibility

Lockton offers professional and specialist services to evaluate self-insurance strategies/alternative risk transfer methods in order to:

  • Reduce the exposure to the cyclical nature of  the conventional market, and
  • Contribute overall to a reduction in the cost of  risk.

Self-insurance strategies can range from informal solutions, such as paying for losses as they occur (balance sheet retention), to more formalised strategies such as cell captives and wholly owned captives.

We use a consultative process that analyses different captive options. The benefits are:

  • assists management in formulating an efficient risk financing programme that contributes to  the overall reduction in the cost of risk
  • contributes to greater earnings stability
  • decreases dependency on the general  insurance market
  • gives an understanding of, and enhances loss information.

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