JOHNSTON, R.I., USA—Commercial and industrial property insurer FM Global has launched a first of its kind mobile app to help companies mitigate their exposure to fires resulting from “hot work”— operations that produce flames, sparks and/or heat. While preventable, gross losses from poorly managed hot work cost businesses an average of US$5.1 million per incident and are among the leading causes of commercial property loss every year.
The new FM Global Hot Work Permit App allows users to better manage their risk and their hot work programs on a mobile device. Such permitting systems provide proven guidelines that are critical to loss prevention as the majority of hot work fires are caused by outside contractors. FM Global’s average fire loss for facilities with well-managed hot work programs is US$123,000; losses at facilities with poorly managed programs are on average 41 times greater.
Through the new app, which is available at no cost, facility managers and other users can:
The FM Global Hot Work Permit App is available for Apple, Android and Windows phones in U.S. app stores.
Marking 180 years in business in 2015, FM Global is a mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management and the resilience of its client-owners. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organizations, including one of every three FORTUNE 1000 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection. FM Global is rated A+ (Superior) by A.M. Best, AA (Very Strong) by Fitch and A+ by Standard & Poor’s.