Allianz Global Corporate & Specialty (“AGCS”) has teamed up with the Insurance Information Institute (“III”) to provide businesses with wildfire risk mitigation practices.

According to Allianz and the III, business owners should take the following steps to safeguard employees and property from wildfire:

• Establish and maintain a five foot “no-burn zone” around every business’ property so that nothing can ignite. Defensible space provides crucial protection against wildfire.
• Clear brush and relocate flammable materials away from combustible construction materials.
• Consider the application of fire-fighting foam (both pretreatment and suppression) around business’ property or on combustible building materials. Utilize wildfire-resistant building materials.
• Develop an employee safety plan in the event of a wildfire.
• Have a business continuity plan in place.

“We are dedicated to helping businesses mitigate extreme catastrophes like wildfires with the most advanced techniques and solutions available,” said Scott Steinmetz, global head of mid-corp risk control at AGCS. “Innovative approaches are a part of the new frontier in proactive mitigation response and risk awareness, property resiliency, and true customer service.”

Business owners should further discuss with their insurance professional the following key points as it pertains to wildfire:

• Their current policy coverage (what it does and does not cover).
• The various types of coverages available to protect their business and business interruption.
• The myriad of mitigation solutions and fire protection services.
• Precautionary measures that can be taken now to prevent loss later.

“Financial preparedness is as vital to an organization as business resilience planning,” said Loretta Worters, vice president of media relations for the III. “We recommend business owners review their insurance coverage to ensure they can adequately rebuild their properties as well as protect their business against disruptions.”