Ahead of our Risky Business Roadshow, Tom Backhouse from Terrafirma explains why when it comes to environmental risks the absence of evidence isn’t the same as evidence of absence:
“The age of solely relying on data in environmental risk assessment is over, with a visible shift in the way professionals perceive risks such as contaminated land and flood. Where historically data alone was enough to accept due diligence, now both a professional opinion and interpretative data modelling is a standard in assessing and managing these environmental hazards.
However, despite the significant annual financial expenditure (between 4% and 15% of all Buildings Insurance Claims in the past 5 years were attributed to subsidence) and the increasing visibility of the ‘Sinkhole’ phenomena, this shift in due diligence process has not been replicated in assessing the risks the ground pose.
Until now. Recent revisions in due diligence practice is changing the way the risks such as mining, ground stability, planning and fracking are perceived and acted upon.
Ensure you and your client are informed by acquiring an expert report, driven by data but protected by a professional opinion and robust professional indemnity.”
Join us for our Risky Business Roadshow to find out more
Tom Backhouse will be part of our guest speaker line-up at our Risky Business Roadshow events this November, which will explore how firms can better protect, prepare and promote their businesses.