PARA Pre-Acquisition Risk Assessment
Are you about to acquire a new asset to your portfolio? Are you concerned about the uncertainty related to the value of risk of the surveyed asset before its acquisition? Are you looking for a cost-effective property insurance in case you decide to acquire the asset? If so, our PARA service could be your choice – we will help you identify all important asset related risks, including potential red flags that can lead to non-compliance with legislative requirements, technical standards, or operational guidelines, as well as to serious losses during operational service. We will prepare a list of opportunities for improvement based on the value of identified risks as well as insurance underwriting report for your insurance broker or your insurance company in order to obtain the best insurance rates. Both will be of irreplaceable support for your negotiation process during the acquisition.
When to use PARA?
- As part of your asset acquisition process.
- Newly built asset being put into operation, including operational testing period.
- Existing asset being re-built or retrofitted and restarting operations.
- Asset being subject of competition for property insurance renewal.
Asset related risks
- Fire, Lightning, Explosion, and Aircraft (FLEXA) and security risks.
- Natural hazards including earthquake, river flood, flash flood, hailstorm, extreme wind, landslide, extreme snow, and others.
Scope of work
- Data gathering.
- Site survey of asset under acquisition.
- Risk analysis and evaluation.
- PARA report writing.
- Red Flag report including list of all important risks and follow-up Opportunities for Improvement.
- Opinion on Risk & Opportunities for Improvement.
- Insurance Underwriting & Loss Estimates report.