Fire Safety

The Plan:

_01 OVD Risk Solutions team met with the client’s Risk Management team to understand their unique needs

_02 OVD and the client built out a fire safety prevention assessment within Ascend

_03 Continual evaluation of the back of house fire prevention and suppression systems through the use of Ascend audits.

Result: Improving Clients Total Cost Of Risk (TCOR)

Utililizing this audit allowed the client’s risk team to bring tangible findings back to their facilities and operations teams. Along with OVD’s recommendations, this helped establish best practices for in-house maintenance as well as better vendor controls for their fire suppression and safety systems. The client was able to update this assessment process the following year to take a more holistic look at store safety while still including the fire prevention aspect.

The increased vigilance in preventing fires has reduced their overall property claim frequency reported to the carrier. For the two years prior to completing the fire safety audits, the client reported four claims totaling millions of dollars worth in losses. In two years since implementing the audits, the client has reported zero claims to the carrier. This change also reduced the time spent by the client’s team in chasing after information on these claims, giving them the opportunity to shift their focus to preventative rather than reactive. These findings along with regular, interdepartmental conversations the client holds have reduced the number of fires greatly and made an impact with their property carrier.

Disclaimer: Individual results will vary.