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Industry
Pyrco delivers the following services:
Risk assessment and mitigation
Protecting your business starts with a throughout assessment of the threats that could endanger your assets. This is why Pyrco provides property risk engineering audits at your facilities consisting of risk mapping, a review of existing loss prevention management programs and an efficiency study of the installed protection equipment.
A full report detailing risk mapping and risk rating of property damage, machinery breakdown, business interruption and natural perils, together with a loss estimates development, is generated as an outcome of these audits. Furthermore, loss prevention recommendations could be issued to reduce loss impact and to improve your business resiliency.
Engineering studies
Today, building a new factory or adding an extension to your existing factory has major implications because of the breadth of regulations and codes. Pyrco not only supports you in fulfilling the safety requirements, but also advise you in the use of the right building materials and protection equipment. We assist you in achieving the right balance between project investments and protection of new facilities.
Additionally, Pyrco has extensive knowledge of international codes and standards on fire protection systems (NFPA, FM Data Sheets, CEA, APSAD) and assist you in the conceptual design and implementation of solutions to protect your factory adequately.
Risk management
Large global companies with multiple factories often struggle to implement or streamline a culture of risk management. This is mainly driven by the contradictions between the authorities, that prescribe safety with laws and regulations, and the requirements of the insurance companies.
With the assistance of Pyrco, Risk and Insurance Managers will develop and implement a sound and company-wide corporate risk policy. As the environment is ever changing, we wil make sure to update such policies regularly.
Given Pyrco has deep expertise in the brokerage and insurance industries, we are able to provide assistance to Risk and Insurance Managers on their insurance coverages. Together, we optimize your property and business interruption coverage relative to the risks and potential losses they could incur. Our goal is to optimize the safety investments to adequately protect your assets in relation with your insurance premiums and coverages. We provide you with technical support during the negotiations with brokers and insurers.
Pyrco also develops tailored risk engineering reporting and risk rating templates for your company. This allows the Insurance and Risk Manager to benchmark the safety and protection culture within the different facilities in his company, and retain some risks within the company or transfer risks through insurance coverage.
Business interruption and business continuity assessments
Today companies have an insurance coverage for business interruption. Experience has shown that companies buy this coverage putting a cap on the indemnity period of the policy. They often underestimate the time required to rebuild assets and resume operations after a large loss. Being well prepared to act adequately in case of a calamity is a further challenge.
As the world is getting more interconnected and globalized, your supply chain is facing new threats. Companies might be unaware of potential risks at their suppliers. A calamity at a critical supplier could seriously harm the operations’ continuity of your company.
Pyrco assists you in estimating the impact of large losses at your facility and at critical suppliers on the business continuity of your company. Our main goal is reducing the impact of such events through implementation of sound disaster recovery plans and business continuity plans.