As the one-year anniversary of Hurricane Sandy approaches in late October, Allianz Group’s specialist corporate insurer, Allianz Global Corporate & Specialty (AGCS), warns that while there is heightened awareness, many businesses have not yet implemented adequate changes.
A new Risk Bulletin from AGCS entitled ‘Superstorm Sandy - Lessons Learned: A Risk Management Perspective’ examines the cost of the disaster and outlines what businesses need to do now to ensure they can mitigate the adverse financial impact of future storm events.
“Many businesses are not as prepared as they could be. Today businesses need to prepare for the new normal of weather events and this can be a laborious process,” said Tom Varney, Regional Manager for Allianz Risk Consulting in the Americas. “For many companies it takes time—in some cases years—to appropriate funding and actually make the much needed changes. For others it may just be about focusing on the right things at the right time. Allianz is committed to helping clients identify vulnerabilities, mitigate risk and be as prepared as possible.”
Superstorm Sandy - Lessons Learned: A Risk Management Perspective identifies four key steps that businesses can implement now to be better prepared for future extreme weather events: