What is RISCAuthority?
RISCAuthority is an annually funded research scheme supported by a significant group of UK insurers that conducts research in support of the development and dissemination of best practice on the protection of property and business.
Why does RISCAuthority exist?
In the United Kingdom there are very clear dividing lines drawn between stakeholder responsibilities for the protection of lives, and the protection of property and business. Almost without exception, government generated laws and requirements pertaining to the workplace and built environment detail performance up to and no further than the assurance of safety of lives with no further demands on the protection of property or businesses. RISCAuthority conducts research with a view to influencing and augmenting mandatory requirements for loss prevention and protection. This aims to ensure business resilience is included in the overall protection strategy and that, in the event of fire, more happens following successful evacuation to ensure the on-going viability of the property and the business conducted within it.
What does RISCAuthority do?
Through a series of technical working groups, RISCAuthority seeks:
- Wherever possible to anticipate future events that may detrimentally impact upon the business of the UK insurance industry and invest accordingly to mitigate the consequences
- To identify issues currently affecting UK property insurance and invest accordingly to provide insurers with a means of managing the situation
- To maintain and improve the industry guidelines that underpin current insurer business and property protection practice
- To make business and property protection financially and technically attractive to the insured property owner
- To act as a focal point for all stakeholders with interests in business and property protection
- To encourage commonality with government policy where prudent
Which can be broken down into the key activities of:
- Stakeholder engagement
- Standards representation
- Information gathering
- Data and case study Interpretation
- Production of best-practice guides
- Development of insurance toolkits
- Dissemination of knowledge and information