Page 133 - RISK Management IC 86

The Insurance Times

measures exceed the loss probability by fire, because
then it would not serve any purpose of loss prevention.
So the true effectiveness of each additional rupee
expended is to be founded.

Insurers offer discounts for installing fire preventive
measures to encourage industries to install such
measures. These discounts also reduce the cost of fire
loss prevention and provides an incentive for their
installation. Discounts in the principle also provides a
cash margin to the industries for expenditures on other
aspects of loss prevention.

(c) Mutual Aid Scheme - It is a scheme of giving and
receiving aid in times of emergency. An emergency is
an unexpected situation of a severity too great for an
industrial unit and it requires immediate assistance from
outside.

The management aims to ensure that
(i) the provision of built in safety features.
(ii) enforcement of a well conceived and well formulated

operations, safety rules and regulations.
(iii) provision of optimum facilities for fire prevention and

fire fighting.

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