The Economy of Fire: ASIB podcast from the FIA Summit 2018

Posted on: 2018-11-21

On October 12, 2018, the annual FIA Summit took place at the Sandton Convention Centre. 

On the list of speakers was our own MD, Natasha Goring who presented information regarding the relationship of the fire and insurance industries. The full presentation can be accessed through Soundcloud.

“Even though a building might be code compliant, it might still not be a desirable building,” she said. “The national building regulations themselves state that they (the regulations) don’t cover absolutely everything. So compliance with the code doesn’t necessarily mean a building is safe. Protection of people is paramount!”

Natasha Goring at FIA Summit

Natasha also talked numbers, saying that the value of a claim is often as much as five times higher than the damages estimated by the fire services.

“They only estimate what they can see,” she said, “but the cost to rebuild, the loss of income, the damage to property and loss of life add substantially to the total claim.”

Natasha says the best course of action for businesses is to install a sprinkler system that goes beyond the code.

“Even though it might cost more upfront, the savings can be massive in the event of a fire.”