A large retail group with around 90 stores in the UK wished to avoid the considerable loss of customers and income that would occur if an outlet suffered damage and could not trade.
As a result, Marsh was asked to carry out a property damage audit of an agreed number of stores each year and make practical recommendations on minimising risk.
The group has found that the audit, when used as an informal training session involving store management, helps to instil risk management disciplines and principles. Where a deficiency is found, Marsh indicates the cost of remedying it compared to the potential cost of not doing so, enabling the group to assess the investment required against the potential return.
Managing your risk