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A Major Hotel and Leisure Development - Case study Client:
A Major Hotel and Leisure Development in South Africa Project
On behalf of our client, 6 Alpha was contracted to produce a Probable Maximum Loss (PML) Study Risks/Problem
The client’s assets exceeded US$10bn and the site represents one of South Africa’s most prestigious and high profile tourist developments. The site included hotels, a shopping mall and numerous bars and restaurants. The client was unsure as to their vulnerability to terrorism and subsequent financial exposure. This affected their ability to source representative insurance cover. Our Solution
Our team conducted a comprehensive qualitative threat assessment and identified the probable sizes and explosive effects of the potential threats in the region. Through our semi quantitative risk analysis methodology, we were able to identify where vulnerabilities interacted with potential threats in order to identify the worst-case terrorism scenarios. Using detailed quantitative analysis, damage estimates were produced for the worst-case scenarios. In producing the report, we were also able to make detailed recommendations of how the probable maximum loss might be reduced through the use of security engineering and procedural security measures. Benefits
The client has experienced 3 key benefits: • The client was given a realistic appreciation for their financial exposure to terrorism.
• The client was able to reduce insurance premiums substantially.
• The client was subsequently able to implement our recommendations on security
engineering and procedural security measures, in order to further reduce their liability.
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