As reported on Insurance Business Australia, QBE Australia Pacific's general manager Arron Mann warned that “natural disasters and extreme weather can strike anywhere with little to no warning. Whether you live in the city or the country, extreme weather can affect us all, so it’s better to be prepared.”
Amongst good advice from QBE was the essential knowledge of understanding your own risk: ‘Think about the types of events that could affect them and the likelihood of these occurring and then plan and act accordingly…’
Disaster-preparedness importance to Australian businesses
"Better safe than sorry". This should be the motto to stand by when thinking of disaster-preparedness. At the end of the day, it's your business and assets that are at stake. We cannot afford to be complacent.
Being prepared for the worst means:
- Severe damages on physical assets (houses, vehicles, buildings, trees, etc)
- Reducing the catastrophic impact of natural disasters on our communities, families, and individuals
- Accessible stores of water and food and other basic human needs
- Understanding your business's insurance coverage
Disaster planning and preparedness can make the difference between staying in business and losing everything.
How Will Your Business Be Impacted by Hazards?
Each company faces its own unique set of physical risks. These can depend on the nature of its business, location of its significant assets, its supply chain, and the dependence of its value chain on conditions affected by climate change. Could you identify each of those hazards an asset is at risk of?
Using historical climate hazard data, EWN's Climatics compares historical risk with present day risk to inform its users of how the probability of an event occurring is changing. Climatics gives you a full overview of all the hazards likely to impact your asset, based on historical data you can prepare for the next 5 years by understanding your current day risk.
You can read the full article here.
