In 2022, the U.S. experienced 18 separate weather or climate disasters that resulted in at least $1 billion each in damages.1
2022 also had the eighth most disaster-related fatalities for the contiguous U.S. since 1980, with 474 direct or indirect fatalities1 and damages from the 2022 disasters totaled $165.1 billion, and the combined cost from events of this caliber over the past 10 years totals $1.1 trillion from 152 separate billion-dollar events.1
Your business is essential. Take action now.
Should a climate or weather disaster strike, your employees and customers need you to reopen as soon as possible. You are essential to your community’s recovery efforts, so take action now.
- Know your risks. Find and review your county's hazard analysis or disaster mitigation plan to understand what events impact your geographic area.
- Develop a plan to respond to each of the identified risks.
- Your plan should take into account your business's essential operations, employees, equipment, suppliers, technology, and finance needs.
Inflation and supply chain issues are rapidly increasing the cost of rebuilding following a disaster. Review your policy limits and talk with a Federated Insurance representative to help ensure that you have the proper coverage in place to fully recover from a climate or weather disaster.
1. 2022 U.S. Billion-dollar weather and climate disasters in historical context. https://www.climate.gov/news-features/blogs/2022-us-billion- dollar-weather-and-climate-disasters-historical-context. Accessed 3/16/23.
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This article is for general information and risk prevention only and should not be considered legal or other expert advice. The recommendations herein may help reduce, but are not guaranteed to eliminate, any or all risk of loss. The information herein may be subject to, and is not a substitute for, any laws or regulations that may apply. Qualified counsel should be sought with questions specific to your circumstances. ©2023 Federated Mutual Insurance Company.
