Strata Unit Underwriters, in conjunction with external service providers, offer a Risk Management Service to assist with the protection of physical assets (i.e. the protection of buildings against fire or malicious damage) and the reduction of potential liabilities (i.e. the prevention of slip and fall type accidents).

Our Risk Management Service is based on the Australian/New Zealand Standard on Risk Management (AS/NZS 4360).

The Risk Management Service offered by Strata Unit Underwriters involves assessing the property and providing a Risk Management Report, which focuses on the identification and measurement of risks and the recommendation of appropriate risk management controls.

Part of the Risk Management Service may be to carry out an Occupational Health & Safety Report on your property. This may identify:

Liability risks such as:

• Absence of depth indicators in swimming pools
• Slippery surfaces
• Uneven ground surfaces
• Absence of handrails
• Poor or insufficient lighting in stairwells and common areas
• Absence of Fire Exit signage
• Unregistered lifts
• Obstructions to access & egress of fire safety stairwells
• Playgrounds that don’t comply to ASNZS4486.1-1997

Fire risks such as:

• Faulty switchboards
• Dangerously stored chemicals or materials
• Faulty or poorly maintained sprinkler systems
• Fire Extinguishers that lack charge and have not been regularly serviced
• Absence of Residual Current Devices (Note: they must comply to AS3000:2000)
• Absence of smoke detectors or suitable fire protection equipment

These are just a few of the potential hazards that may be identified as part of a comprehensive Risk Management Report.

Some risks, once identified and measured, can be controlled by taking simple corrective action. For example; displaying appropriate warning signs, such as depth indicators in swimming pools and height warnings for underground car parks. The implementation of appropriate risk management controls can positively assist in reducing the incidence of repeated claims and thus maintain insurance premiums at affordable levels.

If you would like to obtain a Risk Management Report on your property or require any further information about the Risk Management Service that Strata Unit Underwriters can provide, please e-mail your request to info@stratainsurance.com.au.