The recent growth in risk management has been tremendous. Increasingly, companies are recognising that reducing risk, particularly over the long-term, is an effective and cost-efficient strategy.

Touw B&B Holding has responded by establishing a portfolio of services aimed not only at insureds (shipowners, shipyards, cargo interests, stevedoring companies, offshore companies, etc.) but at underwriters and investors as well. There are three key services:

  • Quick scans

    Quick scans are general investigations that are carried out in all sectors of the maritime industry. The aim is to obtain an impression of, for instance, the condition of a ship or a piece of hardware, or the quality of the operating personnel. Smaller marine-related companies can also be the subject of a quick scan.

    A quick scan usually requires two to ten days to complete, depending on the size of the subject. This includes the production of a final report.

  • Risk analyses (expanded quick scans)

    Risk analyses are more in-depth versions of quick scans. They emphasise the corporate structures involved in addition to the condition of the ship or hardware. This includes analysis of maintenance programmes, ship management procedures and company organisation. Risk analyses include recommendations regarding managerial measures that need to be taken.

    Risk analyses provide investors and insurers with a clear picture of the risks that they are taking on. They indicate plainly to principals - generally shipowners/-managers and shipyards - how they can reduce risks or how to prepare for high-risk situations.

    Risk analyses take between two to six months to complete, depending on the size of the ship / hardware or organisation in-volved.

  • Implementation of risk management systems

    Implementation of risk management systems is the logical next step. In this phase, a system is introduced to an organisation that allows it to handle existing risks efficiently. Moreover, a risk management system allows an organisation to identify and respond adequately to future risks.

    The time required to implement a risk management system is not only dependant on the size of the organisation involved, it is particularly dependant on the results of the risk analysis. For this reason, risk management implementation deadlines can only be set after the completion of a risk analysis.

The work is done by a team of skilled consultants who have many years' experience of shipping/engineering, transport/cargo, risk management and organisation management.