Swiss Re Expands Nat Cat Global Asset Protection Services

Swiss Re announced from the RIMS Convention in New Orleans that its Global Asset Protection Services (GAPS) are offering new consulting capabilities to improve the management of risks that result from wind and earthquake damage. Benefits include increased underwriting capacity, reduced premiums and recommendations for the risk manager to improve property protection and personnel safety.

“As risk managers become increasingly concerned by the real threat of natural catastrophe damage from hurricanes, windstorms and earthquakes, Swiss Re is mobilizing to meet their needs by providing more robust risk management solutions,” explained Tim Heinze, head of Swiss Re’s Global Asset Protection Services. “These enhanced consulting services build on our experience of offering a full suite of NAT CAT services, including support placing property insurance requirements, minimizing property loss frequency and severity, and data management.”

Swiss Re said its GAPS program covers the following natural perils:
— GAPS Wind Consulting – provides underwriters with the most accurate data available on exposed properties at their company’s locations. It includes specific construction features such as engineered shutters or wind resistant glass that may not be included in less detailed models.
— GAPS loss prevention engineers make site visits and gather data specific to each property to help enable accurate and detailed loss estimate modeling.
— GAPS Earthquake Consulting – consultants will collect data on site to ensure that models are as accurate as possible, in order to make sure the client’s insurance premiums accurately reflect the risk exposure.

Swiss Re also said its “consultants make recommendations for nonstructural mitigation to improve overall protection and preparedness at industrial and commercial locations. Recommendations can include how a company should prepare its personnel at the site in the event of an earthquake, and a business continuity plan to get the operations ‘up and running’ following an earthquake or storm.”

The new wind and earthquake consulting services are available immediately to U.S. companies and organizations. For more information, contact Dane Lopes at 203 254 2227 or Dane_Lopes@swissre.com.