Report: Hurricane Protection Investment Is Money Well Spent
Aug. 8, 2018
A study from FM Global finds that for every dollar spent on hurricane prevention, loss exposure cost decreases by an average of $105.
For companies wondering whether they’re getting a good return when they invest in hurricane loss prevention, a new study from FM Global indicates that the answer is most likely yes. The FM Global study reports that for every dollar spent on hurricane protection, loss exposure cost decreased by an average of $105. Furthermore, according to the company, this figure doesn’t even take into account other business ramifications from a hurricane loss such as damage to reputation, market share and shareholder value.
FM Global also notes that companies that invest in well-organized flood emergency response planning (FERP) have nearly 70% less damage and resume operations faster than companies with no or inadequate plans. The company advises a number of preventive measures to minimize the effects of costly wind damage and to prevent flood damage including preparing backup power generators, inspecting and securing rooftops, elevating or sealing off valuable equipment and fastening storage tanks.
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