Assertion

Insurance companies provide risk engineers or inspectors to assess their risks. All large industrial company’s usually have an even higher level than the insurance companies.

In fact, insurance premiums are usually based on an assessment of the risk of an event occurring, after an insurance engineer has 'overview' the factors. Isolated cases arise where more manual firefighting capabilities and fewer fixed protection systems are provided. Insurers will also always make recommendations for loss prevention improvements.

If insurers determine that the risk is too high, they can refuse to underwrite certain sections of the insurance or charge significantly higher premiums for their reinsurance.

Security standards for protecting process industries:

Main industry standards and their implementation are e.g.

Ø API Recommended Methods

Ø NFPA fire codes

Ø CCPS guidelines