Don't let a storm blow away your profits this hurricane season
Over the past 10 years, total claims paid out in the United States due to hurricanes averaged $6.2 billion and globally payouts amounted to an average of $8 billion, according to Aon Benfield.
Even one single hurricane can result in tremendous destruction. This year marks the 25th anniversary of Hurricane Andrew, the second costliest hurricane ever for insurers, which resulted in $26.5 billion worth of damages according to the National Hurricane Center. Protecting the bottom line in order to remain open, or to re-open quickly after a hurricane disaster, requires taking steps now to prevent or reduce resulting damage should your business be in the path of a violent storm.
What Can You Do?
When it comes to hurricanes and tropical storms, being prepared is key. In the midst of hurricane season, there are important preventative actions you can take to reduce your risk of costly damage and give you peace of mind. XL Catlin partners with the Insurance Institute for Business & Home Safety (IBHS) to provide you information on how to mitigate the risks involved with hurricanes.
Here are some tips to help you minimize or prevent damage to your property and financial security due to hurricanes. Also be sure to check out XL Catlin’s Calm Before the Storm: Facility Planning for severe weather conditions.
XL Catlin’s Property Risk Engineering/GAPS team can assist you with your property loss prevention any time of the year. For additional information on preventing flood-related losses at your facility, please contact one of our Property Risk Engineering Leaders.