Survey

LLC “CENTER OF PRODUCTION EXPERT REVIEW” performs pre-risk surveys of the asset portfolio of the Company for the purposes of all risks property insurance including machinery and equipment breakdown.

While rendering the services the followings tasks are addressed:

To compile information and studying production process organization.

To conduct market value appraisal of the fixed assets (without land plots value) not including any kinds of wear and tear, owned by the company.

To investigate the experience of operation losses prevention, to provide the description of incidents and accidents history, to assess the risks of property loss of damage, machinery and equipment breakdown.

To determine indicatively possible cost of full restoration of the property portfolio for each facility in order to define the level of anticipated insurance amounts.

To develop scenarios of possible losses for insurance purposes – probable maximum and foreseeable losses (PML and EML).

To determine and assess insurance risks: natural, structural, collateral, process, administrative, specific, risks of civil liability, third party illegal acts (including diversion and terrorism).

To develop recommendations on risks mitigation for each facility aimed at reduction of the probability of unfavorable events occurrence and minimization of anticipated losses.

The information is prepared and risks are assessed on the basis of the data provided, interview with dedicated specialists, as well as on the basis of accumulated internal industry-related information.

Survey – independent, impartial expert review aimed at in-depth inspection and risk assessment.

Relevant to:

Reinsurers – excess of Insurer`s self/obligatory retention- risks sharing into facultative reinsurance;
Insurer* – prior to concluding a Contract, within the validity period;
Insurant – prior to concluding a Contract, within the validity period.

— pre-shipment cargo inspection;

— witnessing while loading/unloading;

— cargo tally;

— cargo quality inspection;

— sealing/unsealing;

— expert review of cargo and transport documentation.

— inspection, condition evaluation and performance check of hull, mechanisms, machinery, systems, devices, equipment, living and service quarters of ships to provide insurance coverage;

— recording evidence, nature and extent of damages under emergency cases;

— damages of hull and mechanisms;

— oil products spill.

— loss assessment for damaged rail rolling stock;

— drawing up of the repair cost calculation;

— appraisal of the salvage value of damaged rail rolling stock.

— pre-insurance risk survey;

— special machinery value appraisal;

— survey of damaged special machinery;

— loss assessment and calculations;

— check of documents of an owner, the insured, a beneficiary.

*Article 945 of the RF Civil Code The Insurer’s Right to the Appraisal of Insurance Risk
1.When concluding a property insurance contract the insurer shall have the right to inspect the insurable property and in case of need to schedule an expert examination in order to estimate its actual value.