Don't Wait for Damage. Look for Leaks Now.
- Topics:
- Property Management
- Tags:
- Business Operations,
- Corporate Insurance,
- Finance,
- Financial Planning,
- FMLink Group LLC,
- Insurance,
- Manufacturing,
- Outage
- Source:
- FMLink Group
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Overview: When it comes to minimizing business interruptions, few companies give much thought to water as a culprit. In reality, according to one study, water damage ranked second behind power outages as the leading causes of business outage, accounting for 27% of the causes. In addition, anecdotal evidence suggests that there may be insurance cost savings—both immediate and long term—from an investment in technologies to protect against water damage. Instead of looking at water damage as a point problem that requires a point solution, companies need to develop a water detection and containment strategy that looks holistically at their water infrastructure as well as considers the following factors in order to minimize water risks. Recently, a new class of "continuous run" sensing systems has emerged, primarily using cable-based intelligent sensors. It takes only a few hours for mold to start to develop. Anecdotal evidence suggests that insurance companies are starting to realize the benefits of having water detection systems in place and have begun to offer incentives to those businesses that install such systems. Given the large amount of water-based claims, water leak detection systems can help insurance companies lower their risk and exposure to business interruptions and outages caused by water damage.
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Format: HTML | Date: Jan 2003 | Pages: 1
