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2018 Major Fire Claims by Industry

 

The graph below is a summary of the 2018 Commercial Property Fire Database compiled by Vero. It only includes losses greater than $50,000 and specifically excludes natural hazard events.

 

Which industries experience the highest level of fire claims?

 

Industries that experienced the most claims in 2018 are now going through greater underwriting scrutiny. Insurers are asking a lot more questions around fire safety and for some industries, recycling and waste management, withdrawing from the market all together. 

Insurance premiums for businesses operating in the high fire hazard sectors are also going up considerably.

 

Graph of Major Fire Claims 2018

How to lower your business insurance premiums?

If you’re concerned about rising insurance premiums or want to make sure you have the right insurance coverage for your business, please give us a call. We specialise in business insurance. We’ll leverage our industry knowledge and market contacts to source a competitive insurance solution for your business.