For a low frequency, high severity peril like earthquake, businesses need to know their risk management plans before a single pebble falls out of place.
A risk management root cause analysis points out the steps that led to the disaster in Surfside. Let this be a lesson, then, when dealing with risk management for all items.
Though plaintiffs will have a tough time blaming businesses for exposure to the virus, carriers are nonetheless prepping defense strategies and emphasizing risk mitigation to clients.
Preparation and action that takes place now can help businesses become more efficient, effective and resilient to natural catastrophes and similar crises in the future.