According to a recent Wall Street Journal report and white paper by global insurance carrier, FM Global, CFOs and finance executives are encouraged to take a 2 to 5-year view when assessing their potential exposure to disasters and the effects of climate change.  For those companies affected by Hurricanes Harvey, Irma and Maria, 62 percent admitted they were “not completely prepared” to deal with the hurricanes’ effect, with 68 percent citing plans to make changes to their risk management strategies going forward.  Furthermore, board members and finance executives may be held accountable for lack of oversight going forward.

WSJ – “CFOs Should Provide More Insight Into Natural Disaster Risks, Analysis Says”  https://www.wsj.com/articles/cfos-should-provide-more-insight-into-natural-disaster-risks-analysis-says-11547125201?mod=e2tw

FM Global – “Master the Disaster: Why CFOs must initiate natural catastrophe preparedness in 2019 and beyond”  https://www.fmglobal.com/insights-and-impacts/2019/master-the-disaster

Please contact the BF Saul Insurance team to learn more about natural catastrophe risk management and coverage options.