Search
 
Expert Opinion

5 things businesses can do now to prepare for hurricanes

Businesses should take advantage of the lull before hurricane season 2018 sets in to ensure that their operations won't be interrupted if the storms are as bad as 2017.

By Andrew Higgins, P.E. | Updated on February 12, 2018
Planning now, before hurricane season starts, can help companies mitigate the risk of serious business interruptions. (Photo: Shutterstock)

As the magnitude of the losses from Hurricane Sandy became apparent shortly after the storm, questions immediately began to circulate as to why the losses were so high and whether this event would be the “new normal.” Five years after Sandy, Hurricanes Harvey, Irma and Maria have confirmed those fears.

According to the 2018 Allianz Risk Barometer, in 2017 there was approximately $330 billion in overall losses from natural catastrophes. At least $90 billion of that total was from the three category 4+ hurricanes — Harvey, Irma, and Maria — that wreaked havoc in September, making 2017 the costliest season on record.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.