Zurich Hazard Analysis
A multi-stakeholder approach to identify and prioritise hazards. The analysis includes scenario-based loss estimates and mitigation actions.
Overview
The Zurich Hazard Analysis (ZHA) is a powerful method for systematically identifying and managing all types of risks, and understanding what the hazards are and how to prioritise and mitigate against these.
The ZHA can also be applied in a variety of contexts including product design, plant operations and business continuity. It relies on the in-house expertise of those who are most knowledgeable about the component, product or process being analyzed. Its ability to reveal risks makes it one of the most powerful risk management tools. With the ZHA, you make all the key decisions yourself: you determine the gravity of the risks identified and you decide what level of risk you’re prepared to tolerate. This level of involvement increases risk awareness and builds confidence in the results of the analysis, making it easier to develop tailormade risk improvement measures.
Highlights
The scope of the ZHA describes both the content and the boundaries of the product, process or components to be analysed
Takes less time than other methodologies, because it focuses on risk(s) that you have defined as intolerable
Scenarios are developed as the team brainstorms through a ‘Pathway’, a defined route through the scope of the analysis.
Improvement actions are devised to eliminate or reduce risks within your tolerance boundary
The risk scenarios are re-ranked to take into account the improvement actions. This then defines your target risk profile.
Zurich Risk Advisor can help you identify business risks
Our specialists can set up your company account and help you get started
Related Solutions
Solution Provider
Zurich Resilience Solutions (ZRS) was created to address a rapidly changing risk landscape, with a new, truly holistic approach to supporting your risk management and helping you to build your resilience. Combining our close relationship and in-depth knowledge of your operations with our industry expertise, ZRS is a key exponent of our promise to build a brighter future together, with existing and new customers.
You do not need to be insured by Zurich to benefit from our solutions.
Our risk engineers and consultants design and deliver solutions for customers across a range of industries and global locations to help organisations identify and manage risk exposures. Tailored to your organisation and working with you, we build a package of services to help you best manage your risks and build resilience. In addition, we partner with specialist third parties to ensure you are working with the most in-depth expertise.