Property Loss Prevention | Standards Michigan

Property Loss Prevention

The insurance industry is one of the strongest, and well-financed interest groups in the standards system of any nation. Insurance company longevity across centuries is noteworthy. Our focus on the user-interest (the weakest interest group in all global standards system) requires an understanding of the business objectives of the insurance industry. We do not advocate in the FM Global suite of documents; we simply track their presence in risk management practices and in the consensus documents where we have an opportunity to influence how, of if they effectively become part of our #TotalCostofOwnership agenda.

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Property Loss Prevention

March 17, 2021
mike@standardsmichigan.com

Left Panel Of George Julian Zolnay’s Allegorical “Academic, Business & Manual Education” Granite Frieze At Francis L. Cardozo High School (Washington, DC)

Ongoing natural disasters in the United States over the past week inspires a review of best practice literature for mitigation, response and remediation. Insurance companies supplement the literature of standards setting organizations with their own loss experience and risk calculations.

FM Global is one of several organizations that curate privately developed consensus products that set the standard of care for many industries; education communities among them.  These standards contribute to the reduction in the risk of property loss due to fire, weather conditions, and failure of electrical or mechanical equipment.  They incorporate nearly 200 years of property loss experience, research and engineering results, as well as input from consensus standards committees, equipment manufacturers and others.

If you want FMGlobal as your insurance carrier, or to supplement your organization’s self-insurance program, then you will likely be assigned an FMGlobal conformity professional.

A scan of its list data sheets since January indicate a number of noteworthy updates of documents establishing minimum requirements for safety technologies common in education facilities:

 

Note that the bulk of the safety concepts in the foregoing list of revised consensus products incorporate by reference the safety concepts that cross our radar every day   FM Global provides direct access to the full span of its documents at this link:

FM GLOBAL PROPERTY LOSS PREVENTION DATA SHEETS

Note that several documents have been updated as recently  as January 2021 — Earthquakes, Roof Mounted Solar Panels, Fire Protection for Nonstorage Occupancies, Cables and Bus Bars, several boiler-related titles, Safety controls, alarms and interlocks, Asset integrity, and Rest of World Cost Trends, among them.

FMGlobal also makes it standards setting agenda public at the link below:.

Standards in Progress

To respond to calls for public consultation you will need to set up (free) access credentials.

We keep FMGlobal consensus products — and the products of other property insurers involved in standards setting — on the standing agenda of our Risk and Prometheus colloquia.  See our CALENDAR for the next meeting.

Issue: [Various]

Category: Risk, Facility Asset Management


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