Hart Brown COO FirestormFirestorm COO Hart Brown’s article on the “Why” of a recent NOAA study defining 2017 as the costliest year to-date is featured on the cover of the Insurance Research Letter for February 2018.

According to the NOAA data, 2017 became the costliest year to date, surpassing 2005, the year of Hurricane Katrina. Previously, 2005 topped the chart with $215 billion in losses. Hurricanes Harvey, Irma and Maria helped propel 2017 to a total of $306 billion in losses. Harvey created the most financial damage, resulting in nearly 41 percent of the total yearly cost, or $125 billion.The article explores what this means for employers and business owners.

“In many cases, reports and stories emerged of companies realizing that the perimeter of their facility did not stop at their property. The perimeter goes beyond the physical property lines and continues with the families and people involved.

Organizations took an active role in helping the families understand how to evacuate homes and where to go if evacuated. After the hurricane struck Puerto Rico, organizations sent equipment, goods and people to reestablish the minimum level of support elements for the people affected. As quickly as possible, organizations must understand the impacts disasters have on people and assist in any way possible. Doing so creates a loyal relationship with employees, and in many cases, employees for life. We must remember that every crisis is a human crisis.”

Learning from last year’s crises and understanding the human element of a disaster enables organizations to recover faster. Register at the IRL and read the entire article

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