Industrial Fire Journal - Fire & Rescue - Hemming Group Ltd
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Hurricane ready?
Published:  15 March, 2018

Survey reveals that senior financial executives at major US companies with operations in Texas, Florida and Puerto Rico were not prepared for last year’s hurricanes.

According to the survey commissioned by FM Global, nearly two-thirds (64%) of the respondents said 2017’s hurricane season had an adverse impact on their operations; of those impacted, 62% admitted they were “not completely prepared” to deal with the effects of the hurricanes; and 67% said they would make changes to their risk management strategy going forward.

In addition, as a result of hurricanes Harvey, Irma and Maria, 57% said they will put in place or enhance their business continuity or disaster recovery plans; 40% will invest more in risk management, property loss prevention, and/or reassess their supply chain risk management strategy; and 25% will reassess their insurance coverages or their insurers.

Market research firm ORC International conducted the study, speaking to 101 senior financial executives at Fortune 1000-size organizations in October through November 2017.

Image: Hurricane Harvey aftermath, Shutterstock.