Insurance doesn’t cover everything
Each year, hundreds of thousands of fires are recorded in businesses all over the world. A fire can have fatal consequences for a business, but many feel safe because they have taken out a fire insurance policy. However, this often turns out to be a false sense of security.
The reality is that many businesses that have incurred higher costs following a fire, close.
Insurance doesn’t cover operational disruptions or downtime. And if the period during which the company is not up and running as normal is too long, there is a risk that customers will find a new supplier and employees a new place of work. This can affect the company’s competitiveness long after the damage has been done – and in the worst case, lead to closure.