Risk Management

Risk Management

Get an in-depth understanding of the risks your business faces.

At Lark, our highly skilled Risk Managers, with a combined experience of over 50 years, are committed to providing our clients with specialist Risk Management services ranging from control of material damage risks (e.g. fire, theft or natural causes) to guidance in respect of  Health and Safety obligations.

Our Risk Management service will normally involve site visits with a face-to-face consultation so that our team can fully appreciate and assess the risk exposures, although remote guidance can also be provided.

We are also able to assist clients with business interruption investigations, to enable them to formulate business continuity plans to help mitigate losses and ensure timely reinstatement of business operations.
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External Risk Management Resources

Lark are committed to providing our customers with the best possible advice, whilst this is largely managed and provided in-house by our Risk Managers, there may be occasions when clients wish to seek guidance from specialist external bodies.  

In this respect, we have collated a list of some organisations that may be of use when considering Health and Safety obligations, the control of fire risks or information regarding Business Continuity Planning. 
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Detailed fire inspection surveys can be undertaken to assess the suitability of passive/active fire protection systems in situ, identify process risks, fire loads, potential inception hazards and discuss potential engineering and management controls.  Exposures vary from site to site but common factors include Electrical maintenance, general housekeeping and external influences such as control of contractors and arson.

As part of the fire survey work, our team can liaise with architects, structural engineers and other professional bodies to advise, at the design stage, the levels of passive and active fire protection that should be considered to achieve appropriate levels of fire protection. The areas covered would include all, or some of the following issues:

1. Passive Fire Protection, use of non combustible (preferably Loss Prevention Council Board (LPCB) approved) building materials, i.e. composite panels conforming to Loss Prevention Standard (LPS) 1181, fire  compartmentation for the segregation of hazardous processing areas, or the construction of fire-break walls plus associated approved protection to openings.

2. Active Fire Protection systems; design and acceptance of the following:

  • Fire alarm systems designed in accordance with British Standard (BS) 5389 2013 ‘Code of practice for design, installation, commissioning and maintenance of systems in non-domestic premises

  • Sprinkler protection systems designed to BS EN 12845 2004 & 2009 ‘Fixed Fire Fighting Systems – Automatic Sprinkler Systems – Design, Installation and Maintenance’

  • Gaseous Extinguishing Systems BS EN 15004 – 1 2008

  • Kitchen fire suppression systems,

3.   Clients are required to prepare Fire Risk Assessments as part of the Regulatory Reform (Fire Safety) Order 2005 .  A Fire survey can assist with the identification of hazards and areas of concern

 4.  As part of Fire surveys, other exposures are also considered - these range from natural events such as storm or  flooding or from site installations such as damage and overflowing of domestic or process water systems. 

In today’s climate, it is important to ensure that business and employees are protected against unauthorised access, theft or possible violent attack.

As part of the Risk Management services provided at Lark’s, we are able to review the adequacy of security protections/procedures, and the design of security protection systems to include:

1. Intruder alarm protection designed in accordance with BS EN 5013 & PD6662: 2010 –‘Scheme for the application of European Standards for intruder and alarm hold-up alarm systems’, and BS8243:2010 ‘Installation and configuration of intruder alarm systems designed to generate confirmed alarm conditions –Code of Practice.

2. All areas of physical security, including perimeter security, locking devices, gates, vehicle control, security grilles and building access control systems.

3. Assess the adequacy of cash handling procedures; advise on the construction of ‘secure rooms’, strongrooms, of either the ‘cast in situ’ or ‘demountable’ types, security glazing, cash teller positions etc

4. Advise on the suitability of safes, taking account of cash holding requirements plus time locks and time delay devices,

5. The design of closed-circuit television (CCTV) systems, to include camera type, lighting, method of monitoring.

6. Advise on static guarding requirements/vetting procedures.

7. Security Fog systems/devices

8. Draft security procedures to achieve the effective use of security systems installed.

Over the past few years the profile of Health and Safety has increased, and with the introduction of ever increasing European driven Directives, there is a need for companies to keep abreast of health and safety legislation.  Compliance with such is designed to maintain a safe working environment and avoid accidents in the workplace, associated costs, adverse publicity and potential disruption to business operations.

Some, but not all of the costs that can be incurred are insurable; there are, however, ‘invisible costs’ relating to workplace accidents, which have been calculated by the Health & Safety Executive (HSE) as far exceeding that which is recoverable under any insurance cover.

To avoid incidents and the possibility of prosecution following a breach of health and safety legislation, Lark Risk Management services will assist clients with reviews of health and safety legislation appropriate to individual business requirements, and look to establish Health and Safety Systems most appropriate to your needs to include:

With the pressures placed upon modern businesses, it is often not possible to have an in-depth understanding relating to all aspects of business operations, and the potential risks of external influences affecting the normal trading of a company.

'Within Lark Risk Management services, we are able to assist clients to investigate and identify key business exposures'.

In relation to policy cover and extensions this would include:

  1. Adequacy of gross profit/gross revenue sum insured.

  2. Adequacy of indemnity period.

  3. Identify dependency on key customers.

  4. Identify dependency on key suppliers, and the possible need for dual sourcing.

The media regularly features losses that occur to either local or national businesses; however, the long-term effects to businesses that suffer a loss rarely become news. Businesses today operate in highly competitive global markets, and those without an effective contingency plan in place are exposed to adverse publicity and business failure due to the loss of key markets to competitors.

A detailed Business Continuity Plan  is therefore of paramount importance to achieve rapid effective reinstatement of business operations and ensuring that interruption is kept to an absolute minimum.

Within Lark Risk Management services, we have developed a well-structured proven business continuity plan template to cover major contingencies such as:

  • Fire
  • Flood
  • Theft
  • Loss of records/systems
  • Loss of data/telecommunications

We will assist and guide you through the process of developing a ‘Business Continuity Plan’, unique to your business requirements.

It must be remembered that insurance will meet any monetary loss to a business, but cannot replace the company’s market share and regain customer confidence.

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