PROFILE
number of severe weather events is a trend likely to continue .
This increase in global temperature will result in more intense levels of precipitation which in turn will increase the frequency and severity of flooding . A recent report suggested that one sixth of all property in the UK is at risk of flooding . Indeed , the UK business community is still recovering from the effects of 2015 ’ s Storm Desmond , which affected over 200 businesses with many still , even now , not fully operational . This kind of event , clearly showcases just how destructive extreme weather can be to business and why mitigating against such a risk should be top of mind for companies .
Whilst extreme weather events cannot be stopped , businesses should take precautions and ensure that their operations are resilient , in order to mitigate damage caused by extreme weather .
When a major incident does occur , the result can be traumatic for business , as reputation , profitability and market share can be negatively affected . Mitigating these risks is therefore crucial , to guarantee a business ’ long term future .
‘ AS THE WORLD BECOMES INCREASINGLY INTERCONNECTED , AND THE DRIVE FOR EFFICIENCY INCREASES , LOSS PREVENTION BECOMES MORE COMPLICATED DUE TO THE NATURE OF GLOBAL SUPPLY CHAINS ’
SO WHAT CAN BUSINESSES DO TO PROTECT THEMSELVES AGAINST THE DAMAGE AND DISRUPTION CAUSED BY EXTREME WEATHER ?
LOSS PREVENTION A key part of loss prevention is building business resilience . A resilient business can sustain market share and retain reputation following an extreme weather event , gaining an advantage over competitors .
8 July 2017