Avalon Risk Management - Special Quest

Special Quest Edition

Aug. 26, 2011

Can your business weather the storm?

With a 5.8 magnitude earthquake striking Virginia and surrounding areas this week, and reports of Hurricane Irene hitting the Eastern Seaboard by this weekend, we’re reminded that natural disasters can happen at any time.

Damage from this week’s earthquake was sudden and far reaching, causing estimated damages of $100 million. Tremors were felt as far north as Maine and reached as far south as North Carolina. According to the American Red Cross, 45 states in every region of the country are at a moderate to high risk of an earthquake. In addition, Hurricane Irene could cause an estimated $330 billion in damages if she sustains her Category 2 strength all the way up the East Coast, the first hurricane to do so since 1956.

In disasters like these, it’s important to keep you and your business safe by being prepared. At Avalon, we have our own business continuity planning to ensure our people and systems are available 24/7 to be there when you need us most. In the event of any emergencies this weekend, please find a list of cell phone numbers and email addresses for our management team. You can also email our IT Department at helpdesk@avalonrisk.com if you experience any technical difficulties with our Merlin system.

For your own business, Avalon works with top Property and Casualty insurers like CNA, Chubb and Great American that offer complimentary business continuity services as part of your Business Insurance program. Resources are also available to assist you in preparing for natural disasters, such as this Disaster Recovery Self-Assessment Checklist provided by CNA.

Maintaining the proper Business Insurance is an integral piece of your business continuity planning. In the event of a catastrophe, it’s important to understand your insurance coverage.

Flood and Earthquake Exclusions, Difference in Conditions (DIC) Policy

Also consider the following implications for your business:

A disaster can occur at any moment, and it’s important to work with strong, financially secure insurers. Businesses whose insurance is dictated primarily by premium costs may find that less expensive policies may often lead to less protection when disaster strikes. Avalon’s comprehensive business insurance programs understand the nature of your logistics industry and protect the full scope of your operations. We stay current on industry trends to keep you informed and protected.

For more information, contact your local Avalon office or Andriana Davis at (847) 700-8087 or adavis@avalonrisk.com. Contact information for your local Avalon office may be found at www.avalonrisk.com.

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