Helping businesses prepare for the wider consequences of a major fire, pollution event or infrastructure disruption
Helping businesses prepare for the wider consequences of a major fire, pollution event or infrastructure disruption
A major incident can affect far more than the business where it begins. Fire, smoke, pollution, emergency service activity and infrastructure closures can quickly disrupt neighbouring organisations, transport networks, supply chains and the wider public.
Businesses naturally focus on insuring their own buildings, equipment, stock and operations. However, the financial and operational consequences of a serious incident may extend well beyond the boundaries of the affected premises.
A fire could force a nearby road or railway line to close, prevent access to surrounding businesses or lead to an exclusion zone being established for several days. Smoke, debris and contaminated fire-fighting water may also cause environmental damage and result in clean-up costs, regulatory involvement or third-party claims.
These risks are relevant to organisations across a wide range of sectors, including waste and recycling, vehicle recovery, motor trade, manufacturing, warehousing, logistics, property, retail and leisure.
They can be particularly important for businesses located close to railway lines, major roads, residential areas, ports, airports or other critical infrastructure.
Protecting your organisation against a major incident may involve several areas of insurance working together. Public Liability, Environmental Liability, Property Insurance and Business Interruption cover should all be considered alongside effective fire prevention, emergency planning and business continuity arrangements.
At TMD, we work with businesses to understand the risks associated with their operations, premises and surrounding environment. We can help you review existing limits, declared values, indemnity periods and policy extensions to determine whether your insurance arrangements remain appropriate for the potential scale of a serious incident.
A policy that was suitable several years ago may not reflect the business you operate today. Changes to your activities, equipment, materials, property values or surrounding area can all affect your exposure, making regular reviews an important part of protecting your organisation.
What should your major incident risk review consider?
A thorough review should look beyond the immediate damage to your own premises and consider:
Contact TMD
To discuss your organisation’s major incident exposure or arrange a review of your existing insurance and risk-management arrangements, please contact us.
Our business is your protection.
