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Allianz Engineering, Construction & Power releases latest inspection defects data

Press release   •   Mar 28, 2019 10:07 GMT

Allianz Engineering, Construction & Power has released new engineering inspections data which found 16% of inspected escalators and moving walkways had a defect which could pose a potential risk to life.

The new data revealed that of the items inspected by Allianz Engineering, Construction & Power, most likely to have a defect that may present a risk to safety are:

  1. Escalators & Moving Walkways (16%)
  2. Passenger / Goods Lifts (15%)
  3. Fork Lift Trucks (7%) / Telescopic Handlers (7%)

While it is encouraging that the overall number of defects being identified in plant and equipment that require immediate rectification remains below 2% this figure still represents over 50,000 items.

Allianz Engineering Construction & Power says the importance of inspections cannot be ignored and must be raised with customers.

Glyn Amphlett, chief engineer for Allianz Engineering, Construction & Power, commented: “Our inspections data demonstrates that there are certain everyday items, such as escalators and passenger lifts which are used daily by the public, where we still are seeing a high percentage of serious defects.

“Just one of these defects could lead to a serious injury or even loss of life for those using the equipment. There is also the potential of major financial or reputational repercussions for the business involved.”

Glyn added: “Brokers can help their clients by stressing the importance of regular maintenance and inspection regimes to help minimise the risk of accidents.”

ENDS

Notes to editors:

  1. Data was gathered by Allianz Engineering, Construction & Power in 2018, from inspections carried out every 6 -12 months. Escalators, Moving Walks and Lift inspections are carried at 6 month periodicity. Forklift Trucks and Telescopic handlers are inspected either annually or every six months depending on their use.
  2. For further information about the importance of engineering inspections from Allianz Engineering, Construction & Power please visit: https://www.allianzebroker.co.uk/news-and-insight/news/safety-first-importance-of-engineering-inspection-and-maintenance.html

The information contained in this press release relates to Allianz Insurance plc. Allianz Insurance plc is one of the largest general insurers in the UK and part of the Allianz Group.

The Allianz Group is one of the world's leading insurers and asset managers with more than 92 million retail and corporate customers. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 673 billion euros on behalf of its insurance customers. Furthermore our asset managers PIMCO and Allianz Global Investors manage more than 1.4 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we hold the leading position for insurers in the Dow Jones Sustainability Index. In 2018, over 142,000 employees in more than 80 countries achieved total revenues of 131 billion euros and an operating profit of 11.5 billion euros for the group.

These assessments are, as always, subject to the disclaimer provided below.

Cautionary note regarding forward-looking statements

This document includes forward-looking statements, such as prospects or expectations, that are based on management's current views and assumptions and subject to known and unknown risks and uncertainties. Actual results, performance figures, or events may differ significantly from those expressed or implied in such forward-looking statements. Deviations may arise due to changes in factors including, but not limited to, the following: (i) the general economic and competitive situation in the Allianz Group's core business and core markets, (ii) the performance of financial markets (in particular market volatility, liquidity, and credit events), (iii) the frequency and severity of insured loss events, including those resulting from natural catastrophes, and the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) particularly in the banking business, the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates, most notably the EUR/USD exchange rate, (ix) changes in laws and regulations, including tax regulations, (x) the impact of acquisitions including and related integration issues and reorganization measures, and (xi) the general competitive conditions that, in each individual case, apply at a local, regional, national, and/or global level. Many of these changes can be exacerbated by terrorist activities.

No duty to update

The Allianz Group assumes no obligation to update any information or forward-looking statement contained herein, save for any information we are required to disclose by law.

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