A look on loss statistics of reportable incidents reveals that fire is the most important cause of major losses in the chemical industry. Therefore it pays off to think about how advanced fire precautions may help to minimize the risk of such damages. This is the topic of the ProcessNet working group “Fire Protection in the Chemical Industry”. Experts from different chemical companies, consultant agencies, insurers and universities, who may contribute to the subject of fire precautions, cooperate and exchange experiences. It aims to establish a still more efficient risk fire management at chemical plants. Important working areas are: knowledge transfer between process safety and fire protection, evaluation and assessing the application of new technologies and learning from experiences. One risk management methodology for the prevention of fire incidents describing protection measures in dependency of combustible components and of financial and social interests is described.