Lessons learned from Sydney’s ‘catastrophic’ storm

Why your business needs an extreme weather action plan
December 20, 2018
How to protect your business against non-compliant cladding
February 14, 2019

Sydney’s violent hailstorm, which has left millions of dollars of damage in its wake, is a crucial reminder of how important it is to protect yourself against potentially crippling damage to your business.

The incident, declared a ‘catastrophe’ by the Insurance Council of Australia, led to more than 15,000 claims in the 18 hours after it swept across Sydney and parts of the Central Coast on the evening of Thursday, December 20. It is anticipated the damage bill could reach more than $100 million.

Car dealerships, also severely hit in Sydney’s 1999 hailstorm, could submit claims to the tune of around $50 million, illustrating the extent to which small businesses can be exposed to risk and damage during extreme weather events.

“In big events like these, the resources might not be available to immediately secure a damaged roof. But it is important that it is attended to in reasonable time, and that it isn’t left for months. Because if it is, that could affect your claim”

Which is why it is vital to be proactive in mitigating your business’ loss in such situations, in order to meet your insurance obligations and return to business as usual as soon as possible.

To view the full article, please visit Steadfast Well Covered here.