The SATAPTM team qualitatively assesses the threat, measures the vulnerability of assets, and evaluates the probable damage.
Launched by Control Risks Group and Komposit risk consultants and insurance brokers, the programme also enables underwriters to better understand the risk, making a reduction in insurance cost likely. Komposit, through their Lloyd's broking partner RFIB Group, have negotiated a SATAPTM facility with terrorism underwriter Hiscox. This allows clients to be pre-approved to receive up to a 10% rebate on their insurance premiums, should they decide to place their terrorism insurances through this facility. This rebate will go toward the SATAPTM and Control Risks assessment fees.
A SATAPTM risk assessment begins when a Control Risks team, together with risk engineers, visit the site to provide the security and terrorism risk assessments. These are then used to calibrate and define the SATAPTM Risk 'Grade' for the asset, facility or company. Upon completion of the detailed assessment, SATAPTM offers and ranks all relevant information to produce forecasts. These note probable and maximum likelihood quantification figures for property damage and business interruption losses.
