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Recycling businesses face unique risks - fire, pollution, equipment failure, and commodity price swings are among the most significant. That’s why resilience is essential. It helps your recycling organization recover quickly from unexpected events like fires, cyberattacks, or market disruptions.
Boosting your resilience means being prepared
Backup power, redundant systems, critical spare parts, and secondary suppliers can all help you bounce back faster. As does understanding your vulnerabilities. With recent market shifts across North America, commodity price volatility is top of mind. A forward-thinking plan can help you stay ahead when conditions change quickly.
What insurers look for in risk assessments
When recycling organizations demonstrate proactive risk management, insurers will be more willing to work together with the recycling organizations and their insurance policies to ensure the right coverage for the most competitive pricing. Here are key areas they focus on:
Fire prevention
Strong fire prevention measures are critical. Insurers look for:
- dust collection systems to reduce fire hazards, including appropriate maintenance & design
- monitoring systems for early detection (Smoke, heat, flame, etc.)
- properly designed & maintained sprinkler systems for automatic fire suppression
- emergency response plans, including documented procedures and drills, to act quickly in a crisis – Ideally, your local first responders will be involved to ensure they are familiar with the hazards and controls in place in your facility
- specialized procedures and controls for the unique risks to your business such as lithium-ion batteries, flammables, and other hazardous contaminants.
Thermal imaging
Thermal imaging helps detect hot spots in waste piles and electrical systems, preventing fires before they start.
Housekeeping
A clean, well-maintained site shows proactive risk management and attention to detail. Poor housekeeping can create fire hazards and risk causing accidents or injuries.
Business continuity
Insurers value documented plans that keep your business running during disruptions:
- backup suppliers
- spare parts for critical equipment
- resilient supply chains
- transfer of processing capacity across multiple facilities
- regular testing of your continuity plans.
Leveraging technology
Using new, innovative technology to monitor and reduce risks shows innovation and commitment to safety, something insurers may reward.
Partnering with Aviva Risk Management Solutions (ARMS)
At ARMS, we help businesses of all sizes identify and manage risks for safer, more resilient operations. Our customized solutions support your preparedness and protection.
Our services include:
- property and casualty risk engineering
- fire protection system design review
- equipment breakdown and jurisdictional inspections
- industrial hygiene and product liability consulting
- commercial driver training
- Internet of Things (IoT), telematics, and dashcam integration
- remote assessments, training, and claims reviews
- sharing industry wide best practices for risk management.
ARMS specialists are here to help
If you’re looking for support in reviewing your risks, Aviva Risk Management Solutions has professional risk consultants across Canada who can provide expert advice and resources. Reach out to us at arms.canada@aviva.com.
