Risk Mitigation Services

By managing loss control, businesses can make a significant positive contribution to reducing or managing business operating costs. Here’s a look at our loss control services:

Hazard Assessment for General Liability & Commercial Property – Assessing the hazards and extent of controls within your operation is an important baseline for setting risk management priorities. We will offer various alternatives to eliminate, minimize, or control these hazards. Myers Risk Services will work with you to determine the impact on your business and cost benefit of implementing changes.

Recommendation Resolution & Alternative Resolution Strategies – Insurance companies provide loss control services that evaluate the risk level of a company or facility, and offer recommendations aimed at reducing that risk. Often, these recommendations are standardized (“canned,”) or follow the rigid internal guidelines of the insurance company. Too many times, these recommendations are either too rigid, lack the detail to be complete or are not cost effective. Myers Risk Services will work as your advocate to not only satisfy the insurance underwriter’s objective but also optimize the benefit for your company.

• Myers Risk Services’ Success Story: Recently a national insurance carrier made a loss control recommendation to upgrade the fire protection at a Florida facility because it was not adequate for the storage area. What the recommendation did not clearly explain was how the loss control rep came to the decision to upgrade the sprinklers and/or any alternative solutions. The business owner determined the cost to be $230,000 to upgrade the sprinkler system. Myers Risk Services was able to offer a solution that involved no capital expense. By rearranging the stock and heights to which it was stored, the sprinkler system was adequate without any changes.

Pre-acquisition Facility Assessment & Sprinkler Assessment – When purchasing a building, it is important to know exactly what you are buying. An assessment of the fire protection systems will not only reveal the level of maintenance needed, but what the system is capable of protecting, if system upgrades will be needed for the new occupant, and estimated costs of improvements.

Employee Training – Myers Risk Services offers courses ranging from one-hour, topic-specific educational sessions to full-day classes. We design the program content to meet your specific needs. Past seminars have included topics such as Fire Prevention vs. Fire Protection (human element programs), Inspection, Testing, and Maintenance of Fire Protection Systems, and Risk Avoidance for Contractors Doing Inspection & Service Work.

Underwriting Reports – Myers Risk Services can provide underwriting reports that help justify underwriter decisions.

In the event your business ever suffers a loss, let Myers Risk Services’ expertise in loss Investigation provide your business the tools needed to support your loss claim. Our Loss Investigation services include:

Root Cause Analysis – Fire protection systems are complex, as are the reasons why they fail. Before responsible parties can be determined, the root cause of the failure must be identified. Myers Risk Services has the expertise to help determine why a fire protection system failed, assign responsibility, and provide support during litigation.

Site Investigation – Loss investigations are focused on providing you with all the facts pertaining to a specific loss. Myers Risk Services will assist in identifying and understanding who responsible parties are for a loss.

Litigation Support – At Myers Risk Services, we work tirelessly to separate fact from fiction, and offer litigation support based on solid scientific and engineering principles.

Myers Risk is available to help businesses save valuable resources by reviewing current insurance property, contents, and business interruption premiums, and developing strategies to improve your business’s current property rating. Myers Risk Services uses Insurance Service Organization Criteria:

Rate Analysis – Ever wonder how your insurance company develops the property rates for your insurance? Or, more importantly, how you can reduce those rates? Most insurance companies use published ISO rates as a starting point in developing your property coverage premiums. Myers Risk Services has saved building owners tens of thousands of insurance dollars by evaluating the current rate for accuracy, offering recommended changes that will affect a building’s insurance rate, and then working with the insurance broker and rating organization to have the rates reflect the improvements. We can offer a variety of recommended changes for a facility and show the impact of the changes, in terms of the improved controls in the event of a fire loss and projected insurance cost savings.

• Myers Risk Services’ Success Story: A strip plaza had firewalls with common hallways between the anchor stores and other tenant areas. They were, however, not receiving credit for these fire divisions because the doors were not UL-approved fire doors. By changing the doors, at a one-time cost of a few hundred dollars, the building owner reduced their insurance premium by several thousand dollars each year.

Building & Sprinkler System Plan Reviews – Just because a building is being constructed to current building and fire codes, it does not guarantee that all the property insurance rating issues have been addressed. Construction materials, interior walls, fire protection systems, etc. all affect the fire rate and eventually the property insurance premiums. For example, unless the correct documentation is provided, ISO may give dry-vit or EFIS type construction a combustible rating, even if it is applied to a cement block exterior wall. Myers Risk Services can discuss how various choices made in the planning and construction phase will influence the insurance rate and facilitate the process of providing proper information to the rating organization.

Public Protection Classification – Myers Risk Services provides consulting regarding public protection classification. These classifications range from 1-10, and are used to help property & casualty insurers assess risk by rating fire protection services throughout the U.S. Myers Risk Services provides consulting on how to leverage and/or improve these classifications.