Original Air Date: July 21, 2022
Did you know the average loss of a commercial water damage claim is $89,000 and the 3rd most common global claim based on analysis of more than 470,000 insurance industry claims from 2013-2018? The frequency and severity of water damage losses has increased throughout North America and around the world for all property types and occupancies. Burst pipes, roof leaks, overflowing toilets, and leaking equipment can cause significant damage, with losses ranging well into the millions of dollars. These types of water damages can also result in business interruption, relocation costs, lost rents, and can negatively impact your reputation.
Most business do not appreciate the risk or understand the many ways water damage originating from within or without, can impact their operations. There is also limited awareness and understanding of how the technology available today can help to prevent and mitigate water losses. You must assess the risk to your building and create a mitigation strategy, because for most, it is not a matter of if but when you will experience a water damage event. In this session we will talk about practical ways to assess and mitigate the risk to your property, and touch on the potential impact and cost of current technologies that can help detect and mitigate water intrusion before it causes major damage.
Note: This webinar is intended to provide a loss control perspective of the topic. Insurance coverage issues will not be covered during this webcast. If you have questions concerning coverage or insurability, please contact your insurance broker or underwriter.