This new risk self-assessment tool is the bridge between the recycling and insurance industries. It is based on a solid data foundation that includes various specialised sources and proven protection solutions.
GrECo’s latest Risk Self-Assessment Tool opens a new chapter in co-operation between the recycling industry and the insurance world. This groundbreaking tool was developed by GrECo in partnership with V.EFB and helps waste management companies to implement the Austrian VOEB “Fire Protection for Waste and Resource Management” guidelines.
With the introduction of this tool, recycling companies can assess their individual risk situation and identify deviations from the directive, under the premise of making the waste management industry safer, avoiding or minimising damage, and promoting cooperation between recycling companies and the insurance industry.
The EU Green Deal sees strengthening the circular economy as a key contribution to Europe’s transformation to climate neutral by 2050. In this regard, the recycling industry is facing challenges and the sector is confronted with high risks, especially from fire incidents. At a time when the insurance market for property insurance has been labelled “tough”, it is becoming increasingly difficult to obtain insurance cover for high-risk activities. Effective risk management and careful alignment with fire safety guidelines are essential requirements for companies seeking full coverage in the insurance market.
How Can the Risk Assessment Tool Help?
The key question is: What can waste management companies do to better understand their risk situation and derive the right measures?
The GrECo Risk Self-Assessment Tool helps companies to evaluate their current risk situation and identify hazards. Based on proven standards accepted by insurance companies, this is the basis for improving the quality of risk management and individual risk situations. The measures derived from this for risk improvement and thus loss prevention can be diverse, from optimising fire protection to working with risk engineers to achieve a medium to long-term plan for adapting to the VOEB directive.
The GrECo Risk Self-Assessment Tool supports companies in these endeavours. Using excellently structured online questionnaires, the tool offers an efficient way of carrying out individual risk assessments. The resulting assessments not only provide a ranking for prioritising risks, but also valuable insights into the key risks, which then form the basis of clear instructions for improving risk quality.
The benefits
The advantages of the tool are manifold. It provides expert insights into the current risk situation, supports the identification of potential for improvement and helps with compliance checks against the industry standard. The results are comparable across different locations and assessment periods and provide the basis for investments in fire protection technologies. In addition, the tool helps to raise overall awareness of the risk situation in the company, both internally and externally towards stakeholders, particularly insurers.
This new risk self-assessment tool is the bridge between the recycling and insurance industries. It is based on a solid data foundation that includes various specialised sources and proven protection solutions. The structured risk assessment within the tool enables a holistic view of the risk situation, starting with processes and infrastructure through to organisational fire protection and the assessment of business interruptions.
How it works
The way to use the tool is simple. Companies initiate the process via a web form and share basic site information. They are then given access to the GrECo Risk Self-Assessment Tool, in which they answer questions on various risk categories. The tool evaluates the answers and presents the results in an attractive report format, which is available for download. This report marks the starting point for further steps in risk management, including benchmarking and monitoring, which offers companies the opportunity to continuously review their risk situation.
The tool also enables regular assessment of existing and planned production facilities, as well as ad hoc assessments in the event of important changes in technology, construction, or organisation.
In this context, GrECo also offers on-site workshops organised by the risk experts at GrECo Risk Engineering GmbH. Based on the results of the self-assessment tool, the specialists help to develop measures and action plans to adapt to the industry standard. In this way, waste management companies also strengthen their cooperation with the insurance industry.
Martin Pöll
Risk Consultant
T +43 5 04 04 243
GrECo Croatia Strengthens Regional Presence With New Risk Solutions
The team brings strong technical credentials through Tomislav Sič, Director and certified risk engineer with two decades of experience, and Martina Toskić, Risk Engineer.
Sustainability as Strategy and the Courage to Transform
What sets leading companies apart is not a broader sustainability agenda, but a more strategic one.
Overpaying for Clothes That Don’t Fit: Why Insurance Needs Be Honest About Risk
This isn’t just about buying more coverage. It’s time to admit the industry has been doing this wrong – and having an honest conversation about what protection we actually need.
