Four fire incidents have been reported in the building's history in 1964, 1975, 2016, and 2023. On 11 July 1975, a major fire incident occurred in the building. The fire was first observed on the first floor at about 8.00 pm local time, and it spread rapidly to the floors above through several vertical openings and shafts. The incident necessitated deployment of the entire fire fighting resources of the city, including units from the
Chennai Port Trust, refineries, and so on. The operations continued overnight and concluded at about 6.00 pm the following day. During the initial stages, the fire-fighting operations were seriously hampered due to falling splinters of glass, burning fragments and molten metal from window frames made of aluminum. In addition, heavy sea breeze aided the rapid spread of fire. As the city hydrants had paucity of water, the fire-fighting operations mostly depended upon the fleet of water lorries provided by the
Corporation of Chennai which were utilized for relaying water from the
Cooum river which was about 0.5 km away. Although there was no reported loss of life, some members of the fire service unit sustained injuries. From the second floor upwards, all the floors were severely damaged due to the fire. In the upper floors, there was nothing left except the charred and twisted steel furniture. However, the basement housing the IBM machine and air-conditioning plant, the ground floor and the first floor were saved. Some of the upper floors were seen to have developed cracks on the walls and columns. Since the structural stability of the building was in doubt, the building remained out of use for a long time until it was inspected by experts and got repaired. The fire was thought to have originated from some waste materials at the bottom of the vertical shafts. The LIC Building fire had led to focus the existing shortcomings and inadequacies in the design and the state of fire protection of multi-storied buildings in India, and helped in formulating comprehensive recommendations for strengthening fire-protection measures for such high-rise buildings. The total loss was estimated to be 50 million. On 15 June 2009, the building received a bomb threat in the evening, which later turned to be a hoax. In June 2012, a crack developed on the eleventh floor of the building, which has been attributed to
Metro Rail work. It is said that the building experienced a tremor on 25 June 2012, which the occupants suspect is due to the usage of vibratory hammer used by
CMRL for tunneling. However, CMRL denies the charge. On 2 April 2023, a billboard atop the building caught fire at around 6:00 pm local time, perhaps as a result of an electrical short-circuit in the billboard's LED lights. The fire was doused in 20 minutes and there was no casualty. ==In popular culture==