Casualty Risk Consulting
Companies face many kinds of risk. Challenges from new technologies, global supply chains, more onerous standards and regulations, challenging legal jurisdictions and precedents can all affect your company’s profitability. Especially when coupled with an increasing frequency or severity of liability claims. Major claims and the attendant media exposure can result in significant damage to reputation and brand. Liability claims trends in many industrial sectors are indicating increasing severity. Individual claims (and recall costs) associated with defective products, pollution spills or fires / explosions have exceeded $1bn in a number of cases. The recent verdicts and huge damages awarded in recent cases (often contrary to scientific consensus) have further highlighted the importance of robust risk management and claims defensibility.
How Can We Help You
AXA XL Casualty Risk Consulting can help identify the key liability exposures associated with your business and work with you to ensure that risks are mitigated appropriately. Our risk consultants include over 30 degree or postgraduate qualified engineers and scientists covering all the major disciplines (including construction, chemical, mechanical, electrical, environmental, pharmacology and biotechnology) with typically at least 15+ years’ industrial experience to add value to the companies we serve.
We focus on the following main casualty areas:
Product Liability and Recall
- Analysis of the inherent exposures associated with particular products, manufacturing processes and markets
- Desktop and site reviews relating to areas such as: product quality and testing, supply chain management, recall planning, traceability, defect monitoring, hazard warnings / instructions and communications
- Claims reviews and workshops
- Review of technical and contract risk management approaches
- Quality audits to assist in certification renewal for the German market
Public and Environmental Liability
- Desktop and site reviews of premises, high hazard facilities and infrastructure to identify exposure areas and advise on appropriate mitigation
- Benchmarking of company procedures against best practice
- Occupational Health & Safety assessments
- Claims defensibility advice
By working with you on your casualty risks, we can help you develop and prioritize improvement measures to reduce your risk exposures and improve the risk management culture in your organization. Mitigating your casualty exposures can help prevent bodily injury, third party property damage, financial losses and sudden & accidental pollution damages. You improve your profitability while preserving your brand and reputation.