Industrial and manufacturing facilities experience nearly 38,000 fires a year, with lighting equipment and electrical distribution responsible for 24% of these incidents. Global Risk Consultants offers tips to mitigate fire risks. (Credit: Mat Hayward/Adobe Stock)
Global Risk Consultants released its 2024 trends for fire risk management, offering new guidance for insurers and insureds, including why proper evaluations and safety engineering reports are critical.
U.S. industrial and manufacturing facilities are most at risk, suffering $1.2 billion in damages annually, according to the National Fire Protection Association (NFPA). However, cost is not the only concern. In 2022, fires in non-residential structures led to about 150 deaths and 1,400 injuries. Improving fire risk management models in 2024 can save lives and the bottom line.
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