Insurance Risk Surveyor

An Insurance Risk Surveyor is a professional specialist who determines the possible risks of certain properties, businesses and other assets, to enable insurance companies to make effective underwriting judgements. They are mainly used to determine the existence of hazards, the exposure level and whether a property or operation can be insured and the terms. They are also vital in ensuring that insurers reduce losses and have correct portfolios of risks by offering detailed analysis and recommendations. Risk surveyors visit locations or businesses in depth in order to examine the safety, physical condition and working habits of a premises or venture. This can involve the inspection of fire safety mechanisms, security, equipment, electrical systems, hazards to the environment and adherence to legal requirements. To create a clear image of the current risks, they collect technical information in the form of measurements, photographs, the analysis of documentation, and interviews conducted with the owners or managers. 

Once they are done with their assessment, they draft elaborate risk reports, which describe the hazards found, the chances of potential occurrence and the potential loss severity. These reports, as well, are accompanied by recommendations on how risks can be managed, like improving safety, enhancing maintenance work or changing the operations to minimise exposure. Their findings influence insurance companies in setting up policy premiums, exclusions and conditions of coverage.

The Insurance Risk Surveyors should be informed about the standards in the industry, building codes, safety regulations and technological advancements to offer appropriate and congruent measurements. They can operate in any of the following industries, manufacturing, construction, hospitality, agriculture and commercial property and therefore versatility and technical knowledge are imperative. Analytical skills, detailing, communication skills and problem-solving skills are essential in this position. Insurance Risk Surveyors and Insurers prevent expensive claims and help clients to make their environments safer and more resilient, which in the end contributes to the stability and sustainability of the insurance industry.