Disasters can take many forms: earthquakes, floods, winter storms, hail, hurricanes, tornados, other water damage, fires, corporate sabotage and the list goes on!
According to the International Red Cross the cost of natural disasters has skyrocketed. In the past two decades, direct economic losses from natural disasters in the U.S. has multiplied five fold to $629 billion.
Munich Re, the world’s largest re-insurance agency reports that in 2004, disaster related loss in the U.S. was $145 billion up from $65 billion in 2003.
NOAA’s National Climatic Data Center, reported the U.S. has sustained 70 weather-related disasters over the past 27 years in which overall damages/costs reached or exceeded $1 billion. 61 of these disasters occurred during the 1988-2006 period with total unadjusted damages/costs exceeding $430 billion.
Catastrophe losses in 2005 totaled $61.2 billion from only 24 disasters. In 2006 losses totaled $9.2 billion, according to the Insurance Information Institute. Last year losses in Indiana were the highest of any state, at $1.5 billion, followed by Missouri, Tennessee, Texas and Kansas.
“Every year emergencies take their toll on business and industry — in lives and dollars. But something can be done. Business and industry can limit injuries and damages and return more quickly to normal operations if they plan ahead…Whether you operate from a high-rise building or an industrial complex; whether you own, rent or lease your property; whether you are a large or small company you must prepare.” – FMEA
Don’t become a statistic – take matters into your hands today, get started on preparing by printing this Business Continuity Check List now. Another great first step is to take this Readiness Assessment.
Disasters happen! The best way to survive is through preparation