Risk Management Checklist for Stock in a Controlled Environment

Risk Management Checklist for Stock in a Controlled Environment

There are a number of ways to manage your risk exposure:

1. Duplication of Refrigerated Contents

  • Duplicate and separate critical business components.
  • Refrigerate duplicates on a separate power supply
  • Consider off-site storage in case of a major incident
  • Review possible impact of a region-wide power failure

2. Maintenance of Power Supply
Many claims arise from contractors turning off electrical power or refrigeration units being moved and then not plugged in again.

  • Wire refrigeration units into the wall to avoid unplugging
  • Brief contractors of critical issues and supervise closely
  • Install a generator with a suitable auto-start mechanism and with sufficient fuel to last until return of power or alternative arrangements can be made.
  • Set up scheduled maintenance and load testing, and a generator back-up contract based on your critical thaw times
  • Get voltage surge protection for the whole building or for critical units (in case of electrical storm).

3. Provision of Alarms and Emergency Response Mechanisms
Early detection of a critical change in temperature is important.  Arrange scheduled manual monitoring or an automatic alarm linked to a central monitoring station. 

Devise an emergency response procedure and communicate this to all relevant parties.  Solutions need not be costly – a contract with an ice supplier to supply ice at short notice or using bottled gas coolant for a short term might be very effective.

4. Fire Brigade Pre-planning
Fire personnel are trained to shut down power on arrival at a site.  Pre-planning with the fire department could avoid this or at least minimise interruption of power.

5. Liquid Nitrogen Dewars
Flexible and portable, Dewars don’t rely on electrical supply - but often contain material with extremely low critical thaw temperatures.

  • Ensure the temperature alarm, is set at a low enough temperature to allow recovery in time
  • Include low liquid level alarms to ensure manual refilling is completed
  • Have an auto-fill system in place as back-up
  • Consider duplicating between units and sites
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Hanna Beaumont FIRM

DIRECTOR, SCIENCE AND TECHNOLOGY

Direct Dial: +44 (0) 1223 200664

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Email: hanna.beaumont@laplayainsurance.com

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