Managing Weather Risk
For some it’s second nature to get ready for winter, whether that means gritting your driveway or checking the boiler. Yet many businesses could fail to do the same, potentially resulting in business interruption, property damage and claims. As the nights grow longer and the mercury begins to fall, now might be the ideal time to check your commercial property for areas which may not hold up against heavy rain or snow. You should also take the time to review your insurance policy for any exclusions which you may not be aware of should you experience weather related damage.
Snow, ice, frost, flash flooding and rapid flooding could generate risk for your organisation – ranging from burst pipes to slips and trips. While serious weather events are the exception rather than the rule, it can be impossible to predict when and where they’ll strike.
Review your current insurances and check that you have the correct level of cover for your risk profile. Claiming after weather related damage can be stressful enough without the shock of discovering you’re also underinsured. Finally, if the worst happens and you cannot access your premises, make technology work to your advantage. Home working, Skype meetings and smartphones can keep your business moving.
Download the Managing Weather Risk.pdf