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The recent floods in Cumbria remind us of the devastating effect that the climate can have on lives, infra-structure and organisations. A recent report by major investment companies calls on investors to ensure that companies have clear strategies for responding to climate change and reporting on risk assessment processes. It argues that companies and their investors are failing to take climatic changes properly into account in their investment decisions.
Insurance companies are asking businesses to carry out risk assessments to cover extreme weather conditions. They recommend that:
The worst effects of many of these problems can be minimised by good preparation and planning now. Often the required measures do not cost much to implement. But if your area is affected by extreme weather, they can determine whether your business survives and even prospers, or not.
ClimateWise is a group formed by many of the large insurance companies. They are developing tools to help their customers to deal with the risks associated with climate change. Speak to your insurers, it is in their interests to help you plan effectively.
AXA have a practical guide for small businesses which explains the most likely risks and gives advice on how to minimise their effect.
In the UK they identify the most likely problems we should prepare for include:
System Concepts can help you improve your health and safety planning, policies and procedures to minimise the risk to your business if you are affected by extreme weather conditions. Please contact us for more details.
Last updated: December, 2009