Risk Management company Munich RE state the cost of electrical fires to businesses.
I have enclosed 2 examples below:
1. Electrical arcing destroyed three main electrical panels and left an office building without power. temporary measures were made to restore the power to tenants, particularly to an accounting firm that was in the same building.
Total Loss $1,597,389.
2. A furniture manufacturer - sawdust in the electrical distribution board severely damaged the interior of the panel.
Repair cost - $21,087
Business Interruption - $14,600
Thermal imaging surveys could easily have identified overheating connections, that can arc, get extremely hot and melt cable insulation, and can ultimately catch fire.
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