RYAN QUINN

NFPA report details $328 billion impact of fire

Blog Post created by RYAN QUINN Employee on Apr 19, 2013

 

The National Fire Protection Association  (NFPA) released an updated report on the Total Cost of Fire in the United States . It can be seen from the report that the total cost of fire in 2010, adjusted for inflation, is 38 percent higher than in 1980, while its proportion of U.S. gross domestic product (GDP) has declined by roughly one-third.


 

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The complete total cost of fire is defined as the sum of economic loss (e.g. property damage, business interruption), human loss (e.g. lives lost, medical treatment, pain and suffering), and the cost of provisions to prevent or mitigate the cost of fire (e.g. fire departments, insurance, and fire protection equipment and construction).


Other key findings from the report:


    • Although the core total cost of fire has increased by 45 percent
           since 1980 to total $108.4 billion, the economic loss due to fire
           decreased by 29 percent, totaling $14.8 billion.

    • The total cost of direct property damages, reported or unreported,
           was $13.2 billion. This figure represents 89 percent of the economic loss.
           The other 11 percent represents indirect losses, such as business
           interruption.

    • Building construction expenses needed solely for the purposes of
           fire safety and fire protection considerations totaled $31.7 billion.

    • Human losses were estimated at $31.9 billion.


Download the cost of fire [fact sheet | http://www.nfpa.org/assets/files/PDF/TotalCostFactSheet.pdf]


Download the impact of fire sprinklers in the cost of home fires [fact sheet | http://www.nfpa.org/assets/files//Research%20Foundation/SprinklerImpactFactSheet.pdf]


!http://i.zemanta.com/157670540_80_80.jpg|src=http://i.zemanta.com/157670540_80_80.jpg|alt=|style=margin: 0px; padding: 0px; border: 0px currentColor; width: 80px; display: block; max-width: 100%;!NFPA report available for free: U.S. Fire Experience by Region

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