Do companies outsource their risk management?

Risk management - the fire as a risk

Risk management means that the company recognizes threats, dangers and risks at an early stage and minimizes or even avoids any damage that occurs.

Risks can lurk everywhere in a company, be it economic risks, technical risks or legal risks.

Fires in particular can pose a very high corporate risk, as the subsequent business interruption means that no money is being made and one has to access the company's reserves.

In the years 2013-2018, fires and explosions made up around 40% of the total value of all damage, which cost insurers around 14 billion euros.1 However, the number of unreported cases is much higher because not every company is insured.

Due to the implementation of certain EU directives, more and more attention is paid to fire protection in relation to occupational safety, as there are, for example, newer and better directives on how to store explosive substances or highly flammable substances. As a result, fewer accidents / fires occur.

Despite all this, many companies are still very critical of the topic of fire protection, as the provision for a seldom occurring event is associated with high costs and you ask yourself whether it is worth investing in fire protection. Or you run the risk of suffering damage from a fire.

A classic part of fire protection in connection with risk management is preventive fire protection and the behavior of people in the event of a fire. Procedures and behaviors are specified in operational fire protection by means of fire protection regulations.