Temporary company closures are not without risks

company closures

Many businesses have had to shut down temporarily due to the COVID-19 pandemic. According to the risk consultants at Allianz Global Corporate & Specialty (AGCS), however, some risks still remain, even when operations are halted and there is no on-site activity. 

Allianz points out that there can be an increased potential for losses resulting from fires or lack of maintenance in industrial or commercial facilities now that they are suddenly standing idle. Companies in the automotive, aerospace and machine-building sectors are at a particularly high risk. During a shutdown, the AGCS experts advise companies to focus on reducing the risks of a fire occurring, on the safe storage of combustible materials and liquids and on implementing proven guidelines for building security and maintenance.

In a new publication, ‘Coronavirus: Advice for businesses forced to temporarily close their premises’, Allianz provides an overview of general safety and prevention measures to help avoid physical damages. “We’re already seeing a number of incidences of physical damage occurring during holidays or at weekends, when fewer or no employees are around,” says Nicolas Lochet, Technical Manager Allianz Risk Consulting for the Mediterranean region.

Remote monitoring tools

Despite the limitations that have been imposed, the AGCS risk consultants are still available to provide technical advice to businesses. Numerous remote monitoring tools are also used. Besides that, Allianz is increasingly using remote surveillance technologies to provide security advice to its customers. Click here for a complete overview of the possible safety measures businesses, factories and commercial operations can take if they are forced to shut down temporarily due to the coronavirus outbreak.