The downstream effects of severe weather
2023 severe weather update panel discussion
Watch our experts, Dr. Phil Klotzbach, Leading Climatologist & Sr. Research Scientist for the Department of Atmospheric Science, Colorado State University; Steve Bowen, Chief Science Officer for Gallagher Re; and Dr. Manny Hernandez, Senior Catastrophe Analyst at Liberty Mutual for a discussion on the latest hurricane seasonal forecast, the issues the insurance industry is facing due to the impacts of severe weather, as well as ways Liberty Mutual is responding to these risks.
Forecast your severe weather risk
Age of extreme weather
Hurricanes, wildfires, and other extreme weather events have a lasting impact on the communities they hit, and businesses aren’t exempt from that impact. In fact, in today’s interconnected economy, the impact of severe weather often sends financial ripples across the entire nation.
Extreme weather affects more than property and, as we enter a new era of climate-related weather events, business leaders need to understand the direct and indirect risks that might impact their business continuity. In this piece we’ll examine how, along with traditional property claims, casualty and liability can also come into play and how they can be interrelated.
3 steps to prepare for severe weather
In the face of increasingly extreme weather conditions, how can your company move from reactive to proactive? As we face the ongoing repercussions of severe weather, evaluating and mitigating risk is becoming more complex. It’s no longer enough to respond to severe weather—organizations need to plan way ahead in order to ensure business continuity.
We’re sharing three key ways to help your organization stay ahead of the storm and reduce the potential for risk along the way.
Action plans against risk
Is your business prepared with emergency kits to help protect you and your employees when a storm hits? Do you know what recovery actions to take after a wildfire causes damage?
At Liberty Mutual Insurance, our risk control professionals have developed helpful, easy-to-use checklists and guides to assist you in facing all types of natural and manmade disasters. Whether you’re facing tornadoes, floods, or wildfires, it is important to be prepared to handle the unexpected, minimize the likelihood of damage to your business, and recover in the event of a loss.
The ripple effect of natural disasters
After a major storm, the immediate damage is just the start. Natural disasters can impair property, services, and inventory, slowing down operations, and impacting your business’ bottom lines. See the downstream effects of severe storms — and how to be ready.
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Top 10 risks with severe weather
As severe weather events like hurricanes and wildfires become more common, the likelihood for severe damage does as well. Explore how we plot the critical risks facing businesses due to severe weather based on the frequency and severity of each risk.
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Related insights
Following the procedures outlined can help you mitigate the impact of severe weather. This material cannot, however, foresee every potential for loss or damage, so you should review your particular situation in an effort to identify all appropriate steps and precautions. No undertaking is intended or assumed by Liberty Mutual Insurance by this publication, as it is for informational purposes only.
Our risk control services are advisory only. We assume no responsibility for: managing or controlling customer safety activities, implementing any recommended corrective measures, or identifying all potential hazards. No attempt has been made to interpret any referenced codes, standards, or regulations. Please refer to the appropriate government authority for interpretation or clarification.
This website is general in nature, and is provided as a courtesy to you. Information is accurate to the best of Liberty Mutual’s knowledge, but companies and individuals should not rely on it to prevent and mitigate all risks as an explanation of coverage or benefits under an insurance policy. Consult your professional advisor regarding your particular facts and circumstance. By citing external authorities or linking to other websites, Liberty Mutual is not endorsing them.
