A systematic review focused on the identification and assessment of fire financial costs in buildings

Fire incidents in England caused £12 billion in financial costs in 2022, impacting lives, properties, businesses, and communities. Existing frameworks for evaluating fire costs remain incomplete. This research conducts a systematic literature review of building fire financial costs, including their cost components, and methodologies that quantify the direct and indirect costs of fire incidents, as well as the expenses of fire protection measures. Of the 15,416 studies, 9,276 were screened after removing duplicates, with 53 meeting acceptable criteria for detailed analysis. Direct costs, such as property damage and casualties, are quantified in the examined studies using statistical or modelling techniques. In contrast, indirect costs, including business disruptions, household expenses, and environmental impacts, are often underestimated. Fire protection costs, both active and passive, involving installation and maintenance expenses, are usually expressed as percentages of construction or operational budgets. Cost-benefit analyses, using Present Net Value and Cost-Benefit Ratios, demonstrate the significance of balancing the investment and benefit of fire protection measures. Findings highlight the variation in cost components and methodologies, emphasising the critical need for a standardised framework to accurately assess fire-related financial costs, enhance decision-making on fire protection investments, and reduce the economic impacts of fire incidents.