Community Asset

Over the past decade, major catastrophic events like Hurricane Katrina and the 2001 terrorist attacks have forced insurers and risk managers to re-examine the effectiveness of catastrophe risk management strategies. Hurricane Katrina exemplifies the local, regional, national and global disruption which can occur in the wake of a major catastrophic event. A good risk management and emergency preparedness strategy requires a robust, reliable response to extreme events that is not only planned but rehearsed and ready for implementation at a moment's notice. A speedy and efficient recovery is also necessary. When a business can rebound from a catastrophic event quickly, employees have a greater incentive to stay within the community for the rebuilding process.