Nearly every company is exposed to some type of natural disaster, but less than a quarter are concerned about the potential business impact of a catastrophic situation, according to survey results from risk management firm FM Global. The report, entitled the 2008 Natural Disaster Business Risk Study, was commissioned by FM Global and administered by Opinion Research Corp., which surveyed 100 executives from U.S. companies with annual revenues of at least $1 billion.
The survey indicates that companies mistakenly think their insurance can fully protect them from disaster, says Ruud Bosman, executive vice president of FM Global.
400 estimated number of natural catastrophes worldwide in the first half of 2008
$50 billion expected amount of overall losses due to disasters in the first half of 2008
20 percentage of firms "very concerned" about the financial impact of natural disasters
80 percentage of firms with North American operations located in regions exposed to hurricanes
90 percentage of companies with North American operations located in regions exposed to floods
80 percentage of companies with North American operations located in earthquake zones
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