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Natural Hazard Risk Management
 ABS Consulting provides a wide range of natural hazard risk management services for all levels of an organisation. We specialise in low frequency/high severity natural hazard events including, but not limited to:
- Earthquake/Seismic
- Tsunami
- Hurricane/Typhoon/Cyclone
- Tornado/Hail
- Flood
- Winterstorm/Ice
The Natural Hazard Risk Engineering group develops and applies technology to assist its clients in the assessment and management of risks associated with natural hazards. We have worked in many industrial sectors including: mining, pharmaceutical, food and beverage, utilities, manufacturing and oil and gas.
ABS Consulting is noted for advanced analytical techniques as well as practical, cost-effective methods involving state-of-the-art engineering and software to provide the full range of facility vulnerability analyses, and risk mitigation options to clients worldwide.
The group includes experienced Mechanical and Civil/Structural engineering specialists who perform a variety of risk management services including:
CORPORATE/MANAGEMENT LEVEL
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OPERATIONAL LEVEL
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CORPORATE/MANAGEMENT LEVEL
Insurance Underwriting Surveys
ABS Consulting provides independent underwriting survey services which cover a wide range of risk areas including; fire, explosion, natural hazards and management systems. We have produced general ‘all-risk’ type reports as well as more specialist reports for specific hazards such as flooding, windstorm and earthquake.
Natural Hazard Portfolio Analysis
ABS Consulting has access to the EQECAT suite of software for performing global portfolio studies against natural hazard risks including earthquake, hurricane, flood, sea surge/rise and winter storm. Natural catastrophe modelling relies on facility vulnerability models which are generally produced from historical insurance claims data. The ABS Consulting/EQECAT approach to portfolio analysis differentiates itself in that it is supplemented by expert engineering input. ABS Consulting engineers have surveyed many sites post event and this first hand, ‘ground-up’ damage experience is used to calibrate EQECAT output to take full consideration of client specific details.
Probable Maximum Loss Estimation
One of the core business lines within ABS Consulting is the estimation of potential natural catastrophe losses. These studies can be performed at a high level as a desk top exercise, as an underwriting survey “add-on”, or as a detailed specific natural hazard survey. Expert engineering judgement, supported by ABS Consulting’s vast database of post event damage, is used to produce the most realistic damage scenario to a facility for given return periods. The studies consider damage to all of the facility assets including: people, buildings, equipment, utilities, raw materials, finished product etc.
Business Interruption Estimation
Often the largest loss following a natural hazard event is business interruption. ABS Consulting has surveyed post event damage from approximately 100 damaging earthquake events and this first hand experience provides a unique insight into not only damage but also business interruption issues. Business interruption is not only important for immediate financial reasons but also for more intangible considerations such as ongoing stakeholder confidence, reputation, brand value etc.
Business Continuity Management
With our long history of natural catastrophe risk management we have been effectively performing Business Continuity studies for many years. With the introduction of BS 25999 we have tailored our existing services to assist companies in working towards compliance. We cover the full range of required skills including advising on management strategy, policy setting, business impact assessment, plan preparation, training, implementation, rehearsal and audit.
Supply Chain Risk Evaluation
ABS Consulting has developed a Supply Chain risk assessment methodology combining elements of our portfolio analysis and business impact assessment services. This allows clients to understand their potential third party dependencies and risk exposure. We offer advice to allow informed decisions for the formulation of cost effective management strategies e.g. supplier diversity, stock piling, penalty clauses and business continuity planning for any residual risk.
Due Diligence Studies
We are valued by many of our clients for our independence and are therefore used for due diligence studies with respect to natural hazards during corporation mergers and acquisitions. This can be in the form of site surveys, desk top reviews or as a portfolio study.
Independent Peer Review
Our independence allows us to act as independent peer reviewers of all work in relation to natural hazard risk management ranging from portfolio studies, loss estimations, detailed design reviews, design specifications etc.
Risk Treatment Strategies
We advise clients on the most cost effective way to manage natural hazard risk. The information we provide allows clients to make informed decisions as to whether they should avoid, accept, transfer or mitigate each risk on a case by case basis. This is based on a cost benefit approach using our extensive loss estimating and mitigation experience.
Post Event Loss Surveys
Due to ABS Consulting’s independence and expertise in natural hazards engineering clients value our post event loss assessment services. The output of such surveys is useful for developing the restoration strategy for the facility and also for insurance claims negotiations.
OPERATIONAL LEVEL
Retrofit Design - Structures
ABS Consulting has a strong civil/structural engineering capability which can provide cost effective retrofit designs to meet a range of performance objectives from life safety (minimum regulatory requirements) to post event continued operation (business continuity specification).
Retrofit Design - Equipment
ABS Consulting has a strong structural/mechanical engineering capability which can provide cost effective retrofit solutions for all types of equipment and plant items. This can be to improve safety (e.g. hazardous storage tanks, fire fighting equipment etc) or for business continuity reasons such as to protect key equipment with long lead times. The designs are all risk based and practical.
Retrofit Feasibility Studies
ABS Consulting has performed numerous feasibility studies for both retrofit and new build design projects; these have covered technical, practical and financial considerations.
Emergency Preparedness Planning
Our practically unique understanding of post event issues faced by many organisations puts ABS Consulting is a strong position to advise on emergency preparedness planning. This can cover high level strategy development and also the more practical aspects such as the identification of safe evacuation routes, post event actions and responsibilities, training, business continuity planning etc.
Training
Training is an increasingly important service as more clients are seeing the benefits of having a risk aware and prepared workforce. Tailored training courses can be delivered to cover risk management strategy development, business continuity planning, emergency preparedness, staff awareness, natural hazard risk reducing procurement and maintenance strategies, simple retrofit actions and good house keeping.
Code Compliance Reviews
It is the nature of design codes that they develop with time and this results in older buildings failing to maintain compliance with the local code minimum standards. ABS Consulting offers a service to review existing structures/equipment against new code revisions and also to advise of current best international practice.
Design Specifications and Review
Working with clients during the initial concept stages of a new project brings benefits in the development of technical specifications to adequately cover natural hazard risk management issues. This is especially important when performance above the local code minimum standard is required for business continuity operations. Later in the project ABS Consulting are often commissioned to independently verify that submitted designs are technically adequate and meet the client requirements.
Performance Based Assessment
Design codes generally cover the full range of performance design options from minimum regulatory requirements (life safety) to minimal damage, (continued operation). ABS Consulting engineers are very experienced in assessing existing structures against codes to estimate likely post event condition. This expected performance is interpreted in terms of property damage, business interruption and business continuity issues.
Cost Benefit Analysis
Cost benefit studies are an important part of the risk mitigation strategy formulation. The ABS Consulting approach aims to identify retrofit schemes which balance the benefits of the project (e.g. reduced potential injury, financial loss, downtime, insurance costs etc) against the costs related to installation (e.g. design, materials, labour, disruption etc). These studies are performed using a risk based approach balancing such considerations as the client’s risk appetite, performance objective, budgets, residual risk, insurance costs etc.
For more information:
E-mail: NaturalHazardRisk@absconsulting.com
Telephone: +44 (0) 1925 287300 |
