Aftershocks: Three ways property damage is felt beyond the initial impact

For any business owner, unexpected damage to a property triggers a wide spread of intense emotions. Initial shock can quickly give way to sadness and loss, which can in turn be replaced by frustration and anger. At these difficult times, addressing the physical damage understandably becomes a policyholder’s focus, but there are often other aspects of damage that need to be considered in order to keep the policyholder informed and to manage their expectations. Here we explore three of the more ‘below radar’ property damage risks and how to protect against them.

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Operational damage

For many companies, the business interruption caused by their premises being out of action can be costly. In recent years, there has been greater focus on continuity and resilience, helped by the rise of remote working, but not all sectors can protect themselves in this way. Manufacturing businesses, for example, are often dependent on a principal site of production, and lost days equate to lost revenues. Service-based businesses are also not immune to operational disruption, with damage to central IT infrastructure potentially affecting the ability of teams to perform business-critical tasks.

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Secondary damage

As if suffering property damage wasn’t enough in itself, there is potential for that ‘primary’ event to set in motion a chain of further problems, collectively known as secondary damage. In claims involving escape of water or flooding, for example, delays or deficiencies in mediation work can lead to more extensive building damage, corrosion or the formation of hazardous mould. And in the case of a fire, after the flames have been extinguished, there can often be secondary issues to manage in terms of smoke contamination and water from the rescue effort.

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Reputational damage

Beyond the physical scars to a building, there is the potential of reputational damage to consider. In the era of social media, a company that has suffered from property damage and possible business interruption can quickly find their problems exposed to a wider audience, which could include customers and prospects. In this situation, there is increased risk of reputational damage and greater pressure to communicate information about what actions are being taken to tackle the situation and to get things back to business as usual in a swift and effective manner.

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Each of the three types of damage listed above can lurk just beneath the surface of a property disaster. For policyholders, it’s important to be aware of their potential to contribute to the total impact and the overall costs involved. Perhaps even more valuable, however, is an awareness of how to mitigate these risks.

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Primo+ is a damage-control service from Polygon that has been designed with precisely these problems in mind. Closely integrated with a customer’s business resilience and continuity planning, Primo+ mitigates the potential impact of property damage through a combination of pre-emptive expert guidance and an optimised emergency response. In the event that a property is damaged by water, fire or adverse environmental conditions, Primo+ customers know the ground has already been well-prepared, allowing the experienced and well-equipped Polygon rapid-response team to deliver maximum impact.

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From the physical effects on a property to the financial effects on a business, instances of damage can be felt in a variety of ways, with some of them less visible and more long-term than others. In a world where it is impossible to completely eradicate the risks presented by fire or water, Primo+ offers businesses the chance to take a ‘belt and braces’ approach to protecting themselves. It’s a case of maximising the effectiveness of your response to minimise the potential for post-damage problems to escalate.

To find out more about Primo+ click the link here - https://www.polygongroup.com/en-GB/services/primoplus/