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Texas Tragedy Raises Awareness About Proper Risk Assessment

Posted by ecbmadmin on Apr 14, 2014 9:00:43 PM


Texas Tragedy Raises Awareness About Proper Risk Assessment

Preliminary investigations reveal that West Fertilizer Co. failed to disclose to the Department of Homeland Security that it was storing hundreds of tons of highly volatile ammonium nitrate at its West, Texas facility.

It's still unknown what sparked the fire that ultimately led to the massive explosion, but the incident raises questions about how thoroughly West Fertilizer—and government agencies who oversaw the facility—assessed the risk of the industrial chemicals it worked with and stored.

The April 17 explosion killed 15 people and injured hundreds of others, in addition to causing extensive property damage to the small community located 20 miles north of Waco.

Your company might not work with ammonia-related fertilizers, but the takeaway for all businesses from this catastrophe is the necessity of painstakingly assessing all the risks your business faces.

And, of course, having the appropriate lines of insurance coverage and adequate limits is a must, too.

Do you have adequate liability insurance to cover your risk? Contact ECBM, LP today to assess your risk.

Topics: Liability, Disaster Planning, Insurance Coverage