Inundations of claims following events like Superstorm Sandy have left insurance providers scrambling for ways to manage claims and owners of micro businesses wishing they'd invested in better coverage—and so-called “superstorms” are not likely to go away any time soon. Earlier this year, NASA released a report indicating that global climate change can be expected to cause weather events of increasing intensity and frequency in the coming years, bringing with them more disruptive damage. With even microbusinesses (those with 10 employees or less) relying increasingly on global supply chains, the opportunity for costly business interruptions around the world is greater than ever.

A 2012 Allianz Global Corporate and Credit study found that in the last decade, roughly 30 percent of business interruption-related losses were covered by insurance. Only about two thirds of small businesses carry business interruption insurance, making this group highly vulnerable to the financial devastation that outside events can bring.

It also means that agents and brokers who serve small and micro enterprises expose themselves to professional liability lawsuits when they fail to inform their clients about the interruption coverage options available. Educating microbusiness clients about the risks they face given the “new normal” of climate conditions and global trade is an essential task for any agent or broker with microbusiness clients.