WHAT CAN BUSINESSES DO TO PREPARE FOR NATURAL THREATS TO PHYSICAL ASSETS ? WE ASKED JOE CULLEN OF FM GLOBAL FOR HIS ADVICE
WRITTEN BY : JOE CULLEN , GROUP MANAGER – FIELD ENGINEERING , FM GLOBAL
EXTREME WEATHER CONDITIONS are not a new feature of the world weather though change in climate has changed the frequency and severity of extremes . Development in exposed areas and the increased value ( and vulnerability ) of assets in such areas are also important factors . Over the last few years , the devastation caused by extreme weather has dominated media headlines worldwide . The economic impact this has on the global economy is vast , with the UN recently estimating extreme weather has caused $ 1 trillion worth of damage over the last decade .
It is widely acknowledged the frequency of these extreme weather events is likely to increase in the future . The occurrence of Category four and five hurricanes has more than doubled since the 1970 ’ s , partly caused by the 1 ° C average global increase in ocean temperatures in the same period . The UN also recently announced 2016 as the hottest year on record , indicative that an increasing
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