No matter the size of a business, most have electrical or engineering equipment that needs regular inspection.
Health and safety laws demand that complicated and expensive machinery is routinely inspected to ensure operation matches specification.
The same laws apply to factories, hospitals and the smallest corner shop or sandwich bar.
Most people at work or visiting a premises have no idea that these inspections are regularly carried out by insurance companies to make sure equipment is operating effectively and without the risk of causing harm or danger to anyone.
Many insurance companies have in-house teams of engineers and safety inspectors that carry out these risk assessments.
RSA, for instance, boasts that its team looks at 50,000 lifts twice a year and that you have a one in three chance of travelling in a lift the firm inspects.
That’s a staggering 137 lifts looked at every day of the year.
These inspections enable insurance companies to assess equipment and to tailor their insurance policies to reflect the condition and safety of how the machinery is running.
The inspections also help insurance companies to collaborate with businesses and public services to draft health and safety procedures.
Many insurance companies offer this engineering risk inspection service, and much like surveyors inspecting homes, the prices and reports can vary widely.
Some firms also have specialisms for specific types of engineering equipment – from nuclear reactors to smaller scale factory equipment.
Choosing the right insurer is often best left to the knowledge and skills of an insurance broker who understands the engineering risk business.
With their inside information, they can source the best inspection team at the most competitive price for the job and save time and money in the process.
And engineering inspections are not something to skimp on, as if something does go wrong and the safety inspection is out-of-date or flawed, the insurance company is unlikely to meet what could be an expensive claim.