by Brianna Crandall — August 28, 2013—Following the release of a U.S. presidential report from the Hurricane Sandy Rebuilding Task Force, international business property insurer FM Global urges property owners and managers to take active measures now to help prevent potential storm losses as the peak of hurricane season approaches. FM Global has made many of its emergency preparation and disaster recovery resources available online to assist businesses with these tasks.
“A big lesson from Hurricane Sandy is that remaining resilient during natural disasters is essential in order for businesses and communities to overcome nature’s forces and be able to recover quickly,” said Brion Callori, senior vice president, engineering and research, FM Global. “Property owners in wind-and flood-prone regions should take actions themselves, right now, to understand and address their vulnerabilities. Hurricane experience proves that complacency contributes to destruction and being reactive, rather than proactive, especially this time of year, can have devastating effects.”
Data from FM Global shows that commercial and industrial clients who spent an average of $7,400 on hurricane preparedness measures recommended by the insurer ahead of Hurricane Katrina prevented an average of $1.5 million in hurricane-related damages per location. Those who were ready for the storm reportedly reduced their losses by 85 percent compared to those who were not fully prepared.
“Hurricane preparedness doesn’t have to be costly or take much time to be valuable, as long as you know the right steps to take,” said Callori. “Well-prepared businesses continue to prove that the majority of property loss is preventable—whether it’s by raising elevators off the ground floors prior to flooding, installing flood doors, or ensuring back-up power is available.”
The approach has proven successful: One Wall Street client, through inexpensive but strategic flood mitigation prior to Sandy, likely prevented a $10 million loss, claims FM Global. Furthermore, the client’s downtime was only 12 days compared to 6 to 12 months had steps not been taken to reduce flood exposure.
To help businesses and communities be more resilient against hurricanes and other natural disasters, FM Global has made many of its tools, data and educational materials available to the public at no cost in its online Resource Center , including:
- Hurricane Prep 101—Prepare a business now for before, during and after a hurricane
- Emergency Response Planning—Devise an emergency response plan using the “Build Your Own Plan” utility
- NatHaz Toolkit—Prepare with proven tools essential to mitigating damage and disruption
- FM Global Property Loss Prevention Data Sheets—Examine valuable data and read property loss engineering guidelines written to reduce the chance of property loss
- Approval Guide—See the tens of thousands of products and services tested and certified by FM Approvals to protect property from loss
- RoofNav—Gain access to a complimentary tool from FM Approvals that provides the most up-to-date FM Approved roofing products and assemblies
- Risk Essentials—Download an FM Global app for iPad, iPhone and iTouch featuring regularly updated loss prevention advice and success stories
See also “Task force releases rebuilding strategy for Hurricane Sandy-affected region and as national model” on FMLink.
