From the course: The New Age of Risk Management Strategy for Business
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The changing weather and your business
From the course: The New Age of Risk Management Strategy for Business
The changing weather and your business
- People talk about the weather all the time. It's been a common conversation on front porches, water coolers and dinner tables forever. Over the past couple of decades, the impact of the weather on businesses has been more tangible and costly. The trend is clear that not only will it continue but likely get worse. That moves the talk of the weather from the front porch to the boardroom. There are two major impacts to a business from the weather. The first is physical and the second is economic. Physical damages from the weather are commonly known. These are perils like hurricanes, flooding, hail and snow. All of these can cause damage and destruction to buildings and property. While some are protected by insurance, others are not. The best thing you can do is identify which perils are most likely to occur in your area and discuss with your insurance agent. This becomes even more important if the company has many locations…
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