Property loss mitigation

The opportunity to save your property from total loss is greatest within the first 72 hours following a disaster incident. Without loss mitigation measures that opportunity can be lost. The immediate actions you take after a disaster incident directly affects recovery time and cost.

Fire, flood and chemical spill incidents often spread contamination through buildings and within critical parts of machinery and equipment. Coupled with poor environmental conditions, such as high humidity, the condition of the affected property can rapidly deteriorate, primarily due to the corrosion of metal components.

The cost of implementing loss mitigation measures seldom exceeds 1-2% of the replacement value of the affected property. For this relatively small investment, you can secure the opportunity for recovery.

Benefits
Loss mitigation measures provide substantial benefits for property owners and insurers:

  • Secures recovery options: Significantly reduces corrosion and other forms of deterioration while you evaluate the options for recovering the affected property
  • Reduces costs: Minimises the scope, timeframe and costs of recovery
  • Retains salvage values: Maintains salvage values as high as possible, should the full replacement option be chosen

How We Work
Our loss mitigation process includes the following 5 key activities:

  1. Isolation of damaged or contaminated areas: Sectioning-off contaminated or damaged areas to prevent cross-contamination, enabling unaffected areas to remain operational, contributing to the resumption of operations and the safety of your staff
  2. Relocation of property: Moving critical or sensitive equipment to a clean and controlled environment (where practical), so that loss mitigation measures can be easily and effectively implemented
  3. Pre-cleaning of surfaces: Pre-cleaning of vulnerable building surfaces, and the exterior / interior of machines and equipment (without dismantling), to lower average contamination levels
  4. Protection of mechanical components: Application of BELFOR proprietary wax-based preservers, to prevent further deterioration of mechanical components and other exposed metallic surfaces
  5. Protection of electrical, electronic or optical components: Prevention of further damage to electrical, electronic or optical components by installing air dehumidifiers to reduce humidity to below 40% RH.