Korea Fire Protection Association to Hold Data Center Fire Risk Technical Seminar with 11 Insurers Including Samsung
Sharing Information on Risk Assessment and Compensation Through Real Cases
The Korea Fire Protection Association announced on July 8 that it will hold a technical seminar at its headquarters in Yeouido, Seoul, on "Risk Management and Underwriting Support for Data Centers."
The seminar will be attended by working-level professionals from 11 non-life insurance companies, including Samsung Fire & Marine Insurance, Meritz Fire & Marine Insurance, DB Insurance, Hyundai Marine & Fire Insurance, KB Insurance, Hanwha General Insurance, NH NongHyup Property & Casualty Insurance, Heungkuk Fire & Marine Insurance, Lotte Insurance, Hana Insurance, and Shinhan EZ General Insurance.
Data centers are often located near large-scale power facilities and clusters of batteries. In the event of a fire, this can result in enormous restoration costs and business interruption losses.
As a result, the importance of thorough risk assessment standards and practical information regarding compensation at the underwriting stage for data centers is increasing.
The association plans to focus on the entire process from risk diagnosis of data centers to fire investigation, insurance conditions, and compensation during this seminar.
The seminar will consist of three sessions: ▲Technical standards and risk diagnosis cases ▲Data center fire investigation cases ▲Insurance conditions and compensation cases for data centers.
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An association representative stated, "Although data centers are facilities with significant social and systemic impact in the event of a fire, practical information sharing in this area has been lacking. We hope this seminar will provide an opportunity for non-life insurance companies to gain a comprehensive understanding of the entire process from risk diagnosis to compensation, and to share information that can be immediately utilized in the field."
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