Independent Worldwide Risk Management Provider

Paragon Risk Engineering

Paragon Risk Engineering is a globally recognized independent risk management firm. With a team of over 200 engineers operating across 35 countries, we bring extensive industry experience and technical expertise to a diverse range of sectors.

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Your Partner for Controlling Risk and Mitigating Disasters

We put our clients first and leverage our decades of experience to help them deliver sustainable growth.

Our independence from insurance companies and brokerage entities ensures that we provide unbiased, client-focused solutions tailored to meet the unique needs of each organization. Our services leverage a tech forward approach that provides concise strategies and delivers optimal results.

Your Trusted Partner

We provide a seamless way for companies to strengthen their risk mitigation and management programs while maintaining focus on core operations. We deliver a comprehensive suite of solutions—ranging from impairment and fire protection asset management to machinery breakdown and loss investigations—all tailored to the needs of your portfolio. These services help ensure consistency, transparency, and alignment with your internal risk tolerance and insurance strategies. We become an extension of your team—bringing industry-specific expertise, scalable delivery, and actionable insights

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Natural Catastrophe Analysis

Extreme weather events are becoming more frequent, more severe, and more disruptive. From hurricanes and wildfires to floods and earthquakes, natural catastrophes expose critical vulnerabilities in infrastructure, operations, and supply chains. Sigma7’s Natural Catastrophe Analysis service helps organizations confront this growing risk with clarity and confidence. By combining deep hazard expertise, engineering insight, and advanced modeling, we support risk managers, underwriters, and business leaders in identifying exposures, evaluating resilience, and making informed decisions to protect people, property, and performance.

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Property Risk Engineering

Property-related losses can disrupt operations, strain budgets, and undermine long-term business continuity. Sigma7’s Property Risk Engineering service helps organizations proactively identify and mitigate these risks through rigorous, data-driven evaluations of buildings, systems, and processes. From fire safety and structural integrity to natural hazard exposure and maintenance practices, our engineers deliver practical, prioritized recommendations that align with both operational goals and insurer expectations. The result is a clearer risk profile—and a more resilient business.

Property Risk Engineering Solutions
  • Operational Property

    Following the agreed risk engineering philosophy, standards and protocols, locations are evaluated for construction, hazardous processes and storage, fire control systems, supervision, management standards/human element programs, natural catastrophe perils, special hazards and all other traditional exposure elements from fire and explosion perils. In addition to direct property loss, a full assessment of potential business interruption is completed during each site visit.  We collect site level business interruption data for account-wide analysis.  Additionally, mechanical breakdown exposures will be closely evaluated.

    All aspects of our service will be in accordance with service instructions that we jointly develop with the client.

    We provide full disclosure of all risk details in our reports.  Report sections include: Summary & Opinion, Changes, Recommendations (including estimated cost to complete and associated loss estimates), Construction, Occupancy, Process Description, Special Hazards, Utilities & Services, Human Element Programs, Fixed Fire Protection Analysis, Manual Fire Fighting Features, Exposures (including Swiss Re CatNet Risk Assessment Report with Flood Map), Business Interruption, and Loss Expectancies – MFL, PML, and NLE for property damage and business interruption.  Machinery & Equipment (M&E) details and M&E MFL & NLE analyses are also provided on combined machinery breakdown survey reports.

  • Self Assessment

    We assess over 1,500 locations per year by self-assessment questionnaires, which is aimed at gathering data for lower value, typically non-production locations. The questionnaires gather basic COPE data as well as sufficient data to generate scoring. Basic recommendations are also generated. Our self-survey process is an integral part of our Risk Management Client Portal.

  • Remote Assessment

    Key risk data is gathered without travel to the site.  An industry-specific questionnaire is shared with site management to submit along with photos and supporting documentation (inspection & testing records, management programs, etc.) prior to video/phone conference. During the conference, Paragon works with the site team, often requesting additional information, to provide a more complete picture of risk quality and offer advice to prevent or reduce property and construction losses.  All information is presented in our resulting report, which is shared with the site team for confirmation.

  • Natural Hazards

    Each report has a Natural Hazards Exposure section in which windstorm, earthquake, and flood exposures are evaluated.  Depending on the region, additional perils (snow loading, hail, tornado, and lightning) may also be evaluated.  Secondary construction characteristics are included in our base reporting for any properties exposed to NatCat.

    For floods, finished floor elevations are compared to the base flood (100 year) elevations to determine loss expectancies based on anticipated water height, susceptibility to water damage, and business impact.

    For wind, roof designs (if available) are compared to wind load maps to determine maximum anticipated wind loads per region.

    Facilities are also evaluated for seismic bracing of equipment and sprinkler systems, presence of automatic gas shutoff valves, and any features/upgrades that could exacerbate or reduce damage and business impact associated with an earthquake.

    For all natural hazard perils, the site’s emergency response procedures are also evaluated, and recommendations are developed as needed.  Flood maps and digital photos will also be included in the reports.

  • Business Interruption

    Our Business Interruption assessments highlight the client’s business interruption potential and include the following elements:
    ·         Number of employees, shifts, days per week, days per year.
    ·         Products, capacity, production lines, critical bottlenecks, special features.
    ·         External critical customer or supplier dependencies (CBI).
    ·         Internal critical customer or supplier interdependencies (IBI).
    ·         Business Continuity and Disaster Recovery Plans.
    ·         Impact of major loss in downtime (production tons, units, etc.).
    The assessment brings together location level data and company wide internal and external independencies to produce an overall picture of the client’s business interruption potential. We can also support the client or broker in analyzing business interruption exposure, and building business continuity and disaster recovery plans.
  • Fire Protection Impairment Management

    Our service includes the development and implementation of tailored impairment management programs, 24/7 availability to receive notifications, and the ability to dispatch engineers on-site to coordinate interim protection measures. With over 200,000 impairments successfully tracked and resolved globally, our online platform ensures continuous monitoring from notification to resolution. We also offer training programs and consultative support to minimize service interruption and ensure fire protection systems are restored as quickly and safely as possible

  • Jurisdictional Boiler & Pressure Vessel Inspections

    Our inspectors, licensed across the U.S., Canada, and Puerto Rico, hold National Board Commissions with special endorsements and conduct inspections in alignment with the National Board Inspection Code (NBIC) and local regulations. Services include internal and external inspections of high-pressure boilers and unfired pressure vessels, as well as mandated jurisdictional inspections, inspections for new fabrications, alterations and repairs, and code compliance consulting. With a proactive, hands-on approach, our team coordinates directly with client sites, issues timely inspection reports, and follows up on code-mandated recommendations to support full compliance and permit issuance. Clients also benefit from dedicated points of contact and consultative support to navigate complex jurisdictional requirements confidently.

Construction Risk Engineering

Paragon Risk Engineering’s construction team provides specialist construction, erection and infrastructure risk engineering services for insurance company clients, developers and contractors. We provide our services typically across all built environment sectors in many geographies throughout the world. We provide services which include:

• Fire risk assessments
• Fire risk management training
• Construction, erection and infrastructure risk advice and risk engineering
• Specialist CAR, EAR, Non-negligent Damage and fire risk management surveys
• Infrastructure surveys of operational highways, bridges, dams, railways, pipelines
• Liability and H&S surveys specifically related to construction activities
• Loss prevention program assessment, development and management
• Risk identification, risk assessment and mitigation management
• Opinion of Risk Reports, Desktop Review Reports, Prospect Reports, PML Studies, Geotechnical Assessments


Our Construction Team covers a full range of disciplines to support the risk engineering work we undertake including Civil, Geotechnical and Structural Engineering, Chemical Engineering, Fire Protection Engineering and Services Engineering. Within the wider Paragon Risk Engineering Team we are able to call on specialist operational risk engineering expertise, which is of considerable benefit during the testing and commissioning phases of complex construction / erection projects. Our Construction Engineers typically each have over 20 years’ construction industry and insurance industry experience and bring a wealth of expertise to the projects we are involved in.

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Fire Protection Asset Management

Fires remain one of the most destructive and preventable risks to critical assets and operations. Yet, many organizations lack the systems and oversight needed to ensure their fire protection measures are fit for purpose. Sigma7’s Fire Protection & Asset Management service delivers a comprehensive approach to identifying vulnerabilities, verifying system performance, and aligning protection strategies with real-world risk. Our specialists assess fire safety across entire asset portfolios, helping clients strengthen compliance, reduce losses, and build long-term resilience into their operations.

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Our services are designed to keep your operations moving and your people protected. We work with clients to anticipate, manage, and reduce risk across all areas of their business. Explore how we can support you.
Analysis and Assessment Services
  • Machinery Breakdown

    We offer risk assessments for machinery breakdown to help companies prevent losses and avoid equipment breakdown.  We specialize in critical equipment, and work with clients to develop action plans to control losses and improve operational efficiency.  Our services are customized to meet the unique needs of each business, taking into account safety concerns, regulatory requirements, and other factors.

  • Infrared Thermography

    Sigma7 Paragon Risk Engineering performs infrared inspections worldwide through its partners. Infrared (IR) inspections have the capability to identify deteriorating conditions in advance of a breakdown, enabling timely corrective measures to prevent equipment and plant downtime.

  • Impairment Management

    Because facilities are vulnerable to large fire losses when fire protection equipment is taken out of service, we provide an impairment notification and follow-up system to help ensure that fire protection equipment is promptly returned to service. We also provide guidance for reducing the extent and duration of impairments, as well as precautions that should be followed to reduce the possibility of loss during these vulnerable periods. Our impairment system utilizes several notification methods including: web (via our on-line data engine), telephone, fax, or email notification with impairment consultation available. Impairment kits, which include notification forms, riser stickers and valve tags, are sent to all locations within 30 days of contract initiation. All notifications are electronically logged.

  • Arc-Flash Studies

    Reduce the likelihood of an arc flash occurrence and its associated expenses by conducting an arc flash study. Collaborate with our team of electrical professionals and engineers to identify potential hazards and establish safe work practices that adhere to NFPA regulations to safeguard your personnel, assets, and operations. Our arc flash studies encompass suggestions to minimize the arc flash risk in facilities and measures to address adjustable interruption device coordination. Sigma7 Paragon Risk Engineering can provide on-site services to execute all recommended modifications.

  • Dust Hazard Analysis

    The purpose of a Dust Hazard Analysis (DHA) is to identify hazards in the process and document how those hazards are being managed.  The DHA provided by Paragon is unique in that it not only exceeds the requirements for a DHA prescribed in NFPA 652, but it also includes a thorough review to determine the facility’s compliance with all applicable combustible dust standards (OSHA, NFPA). The unique expertise and perspective provided by S7 Paragon Risk Engineering also ensures that all potential combustible dust hazards are effectively identified, assessed, and recommendations for mitigation presented. 

  • Business Continuity Management

    As defined by Disaster Recovery Institute International (DRII) and the Business Continuity Institute (BCI), Business Continuity Management (BCM) is a holistic management process that identifies potential impacts that threaten an organization and provide a framework for building resilience with the capability for an effective response that safeguards the interests of its key stakeholders, reputation and value creating activities.

    The primary objective of Business Continuity Management is to allow business operations to continue under adverse conditions by the introduction of appropriate resilience strategies, recovery objectives, business continuity and crisis management plans in collaboration with, or as a key component of, an integrated risk management initiative.

    Paragon Risk Engineering has significant expertise in the assessment of existing business continuity plans and consultative improvements.

  • Fire Protection Asset Management

    The four-pillar Fire Protection Asset Management program aims to help industrial site managers improve their site’s fire protection reliability and performance. The program includes a Fire Protection Contractor Support and Analysis to verify inspection and maintenance practices of fire protection systems, a Fire Protection Equipment Database to enter data into a comprehensive database of all fire protection equipment, Fire Protection Inspection and Testing to establish minimum inspection and testing standards, and Fire Protection System Project and Plan Reviews for plans and system modifications or repairs to ensure compliance with NFPA and applicable industry standards. The program also aims to maintain a schedule of fire protection systems’ age and last date of inspection and testing, and reduce hazards and the duration of impairments.

  • Jurisdictional Pressure Vessel Inspections

    Sigma7 Paragon Risk Engineering provides customized high-quality inspection services, including government-mandated jurisdictional inspections, inspections of new fabrication of boilers and pressure vessels, training programs, inspections of repairs and alterations, and code requirement consulting.

    With a network of preferred partners, licensed to operate in the United States, Canada, and Puerto Rico, Sigma7 Paragon Risk Engineering inspectors hold National Board Commissions with special endorsements and multiple licenses for efficiency in servicing.

  • Account Management

    A highly qualified Account Manager is dedicated to coordinating and monitoring all services provided.  Working closely with the client, the Account Manager helps develop the service protocol that will address every facet of our service, customized to suit your needs.  An overview with pertinent risk data and summary information is provided to assist in your risk improvement and property insurance marketing efforts.

    • Single Point of Contact
    • Focused on Your Risk Management Needs
    • Implementation of Service Plans
    • Monitor Service Delivery
    • Overview & Summary Reports
  • Risk Quality Benchmarking

    We provide a scoring system to help rank your facilities, identify sites that may need more attention or support, allocate premium, etc.  We rate every site using our ‘Quantitative Risk Assessment’ scoring approach which builds up a picture showing the current risk position found at survey and the potential progress available to the site depending on completion of recommendations. We also provide a ‘management’ score which focuses on the areas within the control of local management so that a site can still achieve and be rewarded for excellence, even where investment in fire protection systems, for example, is not planned.

  • Project Management

    Changes in a business can lead to the alteration of inherent risks and loss control factors.  Successful management of such changes prevents adverse effects.  The plan review process assesses a diverse range of engineering skills to evaluate new potential risk exposures and recommend subsequent loss control measures.

    We consider project review to be the complete cycle of activity from protection specification, to plan and calculation review, to witnessing installation acceptance tests, as well as any intermediate site verifications that may be required. Our reviews seek compliance with the applicable NFPA, FM, corporate best practices, and/or industry standards.

    All Paragon staff have full access to all NFPA standards, FM data sheets, approval guides, and UL certifications.

    To make the review process successful and efficient, we work to develop open communication with the architects, engineers, and contractors working on our client’s projects.

  • Building Valuations

    We offer Marshal and Swift Building Replacement Cost calculations as an integral part of each survey we complete. We can also complete M&S calculations for locations that we do not visit, if sufficient and accurate source data is available.

  • Loss Investigations

    As directed, we would dispatch an engineer to a facility to gather all facts and details related to an incident, determine the root cause, and develop recommendations to prevent a recurrence. We work with our clients to identify other facilities that may have similar hazards to also prevent the same scenario from occurring elsewhere. Checklists and loss lessons are developed and shared with these sites to ensure hazards and causes are properly addressed.

    We can also help handle claims from loss and business interruption with our Forensic Accounting team.

  • Aerial Infrared Imaging

    Paragon is pioneering the use of unmanned drone technology for use in the risk engineering industry.  Through our partnership with Montico, our drones can collect highly accurate structural data for analysis by our engineers. Our drones can capture high definition still images, video, infrared and x-ray outputs, allowing us to identify potential hazards that could not otherwise be economically assessed.