Risk Assessment
One of the first things you will want to learn about a company or commercial property is whether there are any factors that will increase the risk of insurance liability or financial default. SMR has compiled a list of over seven million U.S. companies with one or more key risk factors.
Among the types of risk identified are:
Flooding and Pollution:
Our database includes information on the FEMA flood zone status of each commercial property. We also list any EPA registered records of contamination on the site. Potential sources of pollution such as underground storage tanks are also identified.
Crime and Fire Hazards:
Using an algorithm based on the local incidences of violent crimes and property crimes, we identify the relative crime rate of a property. This shows whether the property in question is more or less prone to crime than the surrounding area. We also identify secondary fire hazards for businesses located in the same building as a restaurant, food service, or bakery.
Regulatory Violations:
A company with multiple violations of workplace safety, employee wages and hours, or environmental regulations may be at risk for further fines or other enforcement in the future. Our database identifies companies with a record of violations of health and safety, wage and labor, or environmental laws. Companies flagged as “repeat” or “willful” violators are identified.
Risks by Type of Business:
Some types of business incur additional liability risks, such as hazardous waste transportation, businesses with liquor licenses, or child care establishments. We also identify businesses operating DOT-registered commercial vehicles, and their accident records.
Financial and Viability Risks:
Businesses which have received notices of mortgage default, or IRS tax liens, are indicated in the database. We also indicate the date of founding of the company, and whether it is a home based business.