Allianz Global Corporate & Specialty Partners with The Insurance Information Institute on Wildfire Prevention for Businesses
Industry Leaders Work to Safeguard Commercial Entities During Wildfire Season
With the 2019 wildfire season upon us,
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190731005158/en/
Weather volatility, drought and property development contribute to worsening wildfires (Photo: Business Wire)
2018 was a catastrophic year for wildfires and, as commercial development expands into forests and grasslands, the odds of wildfire-related property damage continue to escalate.
While there are several factors which lead to wildfires – humans (accidentally or purposefully), weather volatility and extreme conditions, including high temperatures, low humidity, strong winds and high fuel loads (vegetation and structures) – improved risk mitigation techniques can help reduce the frequency and severity of wildfires and their subsequent effects on businesses, large and small.
According to
- Property loss. Businesses that own buildings in the path of a wildfire are impacted. Even if the property is rented, business’ physical location will be disrupted when faced with either an evacuation or a move to a new venue.
- Equipment loss. Any equipment within a wildfire’s reach is at risk.
-
Vulnerable Industries . Agriculture, destination wineries, ranching and forestry could have their entire livelihoods threatened by wildfires. - Business Interruption/Contingent Interruption/Supply Chain. Whether a business is in a wildfire-prone area or relies on vendors, or has suppliers or customers who are, any fire should be considered a threat to its operations.
According to Allianz and the I.I.I., business owners should take the following steps to safeguard employees and property from wildfire:
- Establish and maintain a 5-foot “no-burn zone” around every business’ property so that nothing can ignite. Defensible space provides crucial protection against wildfire.
- Clear brush and relocate flammable materials away from combustible construction materials.
- Consider the application of fire-fighting foam (both pretreatment and suppression) around business’ property or on combustible building materials. Utilize wildfire-resistant building materials.
- Develop an employee safety plan in the event of a wildfire.
- Have a business continuity plan in place.
“We are dedicated to helping businesses mitigate extreme catastrophes like wildfires with the most advanced techniques and solutions available,” says
Business owners should further discuss with their insurance professional the following key points as it pertains to wildfire:
- Their current policy coverage (what it does and does not cover).
- The various types of coverages available to protect their business and business interruption.
- The myriad of highly effective mitigation solutions and innovative fire protection services.
- Precautionary measures that can be taken today to prevent loss tomorrow.
“Financial preparedness is as vital to an organization as business resilience planning,” said
About
Our customers are as diverse as business can be, ranging from Fortune Global 500 companies to small businesses, and private individuals. Among them are not only the world’s largest consumer brands, tech companies and the global aviation and shipping industry, but also wineries, satellite operators or
Worldwide, AGCS operates with its own teams in 34 countries and through the
For more information, please visit http://www.agcs.allianz.com/ or follow us on Twitter @AGCS_Insurance and LinkedIn. Cautionary Note Regarding Forward-Looking Statements
About the
Established in 1960, the I.I.I. is the premier independent resource on property/casualty and life insurance. Created to educate consumers about the benefits and economic value insurance provides, the I.I.I. supports its audiences with timely and objective news, research and thought leadership to make insurance more accessible and useful.
For more information, please visit the I.I.I.’s website at https://www.iii.org/ or follow us on Twitter @III and LinkedIn.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190731005158/en/
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