Will a Billion Dollar Disaster Affect Your Business?

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When it comes to weather and climate disasters, the clock is ticking.

As the likelihood of a major climate event impacting your business surges higher each year, disaster recovery planning is critical.

  • In 2022, the U.S. experienced 18 separate weather or climate disasters that resulted in at least $1 billion each in damages.
  • It had the eighth most disaster-related fatalities for the contiguous U.S. since 1980, with 474 direct or indirect fatalities.
  • Damages from the 2022 disasters totaled $165.1 billion, and the combined cost from events of this caliber over the past 10 years totals $1.1 trillion from 152 separate billion-dollar events.

Your business is essential. Take action now.

Should a climate or weather disaster strike, your employees and customers need you to reopen as soon as possible. You are essential to your community’s recovery efforts, so take action now.

  • Know your risks. Find and review your county’s hazard analysis or disaster mitigation plan to understand what events impact your geographic area.
  • Develop a plan to respond to each of the identified risks.
  • Your plan should take into account your business’s essential operations, employees, equipment, suppliers, technology, and finance needs.

Inflation and supply chain issues are rapidly increasing the cost of rebuilding following a disaster. Review your policy limits and talk with a Federated® marketing representative to help ensure that you have the proper coverage in place to fully recover from a climate or weather disaster. For more information on North American Equipment Dealers Association (NAEDA) and Federated Insurance®, visit www.federatedinsurance.com/association-groups/naeda.

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