Tag: insurance

Cost benefit of purchasing multiple Shutguns – we did the math

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Many of our clients have done a great job at not only stocking a Shutgun along with their fire boxes and annunciator panels, but also in training their staff and front line personnel on the proper use and procedures in a sprinkler-related emergency.

We would like to applaud you – and although yes, it is a good idea to have a Shutgun tool at the annunciator panel, it actually is more cost effective to invest in multiple Shutguns per property, having one with each fire extinguisher box. Here is the ‘official’ formula:

$ cost benefit = Shutgun x Floors + Time ($1,000 per minute)

Allow us to explain…don’t worry, there will not be a test later!

Take the example of having just ONE fire extinguisher for an entire building. If a small fire broke out on floor #7 but the extinguisher was on floor #1, the amount of potential damage that could be inflicted in the time it takes to run down and back up with the extinguisher, could be severe.

Similarly, it is estimated that the cost of clean up, repairs and water damage related to accidental fire sprinkler activation can run up to $1,000 per minute for every minute that a sprinkler is left running. (That’s about $17 per second if you don’t have your calculator handy)

Here’s the math in action – see which scenario makes more sense to you:

SCENARIO A:

1 Shutgun x 4 Floors = $50

(savings of $200 for buying only 1 tool)

+          If it takes at least 5 minutes to go down several floors, get the Shutgun and come back –

5 minutes = potentially $5,000 in damage

=          $5,050 in damage and time wasted.

SCENARIO B:

5 Shutguns x 4 Floors (+ 1 for panel) = $250

+          0 minutes to run and get Shutgun = $0/minimal in damage

=          $250 (and minimal damage to rooms/floors.)

*Essentially, the savings on purchasing tools is negated by the resulting damage of time wasted in retrieving the tool.

Economic sense? We think so too! The simple solution: a Shutgun for every floor.

For a gold star – please stock your condo, hotel, and high rise with multiple Shutguns – as well as share/tweet/tag this post with the hashtag #OneOnEveryFloor

Lastly, for our existing customers – be sure you have your Shutgun Sheared Head Attachment for recessed fire sprinklers in walls, ceilings.

CHECKLIST – for engineers, safety managers and risk managers.

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Property owners and managers can reduce the possibility of extensive losses through a water damage mitigation program. The program involves a detailed checklist specific to your facility. This analysis gives risk managers, safety managers, building engineers and other professionals more control over potentially paralyzing situations.

 

• Are small leaks promptly repaired?

 • Is the cause of any leak analyzed to determine if it was an isolated occurrence,

or a symptom of a system-wide problem?

 • Are housekeeping personnel instructed to immediately notify maintenance when

any type of dripping, leakage or clogged drains is found?

 • Is there close monitoring of the work of outside contractors and vendors that may

affect piping systems (sprinklers, water, etc.)?

 • Are there any liquid storage tanks or vessels (hot water, condensate, boilers, fuel

oil, etc.) inside the building, mechanical penthouse, or on the roof?

 • Are pipe diagrams or prints up to date, and showing the location of valves for all

liquid carrying systems?

 • Are shut off valves “exercised” (closed and reopened, lubricated as needed)

at least annually to verify they can be quickly closed during an emergency?

 • Is someone available on all shifts trained to respond immediately to any leak?

 • Is someone immediately available at all times with authorization

(24 hours x 7 days) to call and bring in the professional clean up

and restoration companies?

 • Do you have a proper sprinkler shut off tool in place in case of accidental sprinkler discharge?

 

As part of pre-loss discussions with your insurance carrier, a thorough and specific checklist assessment for your facility should be developed for major areas of concern.

 

 For more information: www.ZURICH.com and www.shutgun.ca

http://www.zurichna.com/internet/zna/sitecollectiondocuments/en/knowledge%20center/whitepapers/real%20estate/water-damage-prevention.pdf