The November to April period is well known for it’s potentially hazardous weather conditions in Australia, but according to the Bureau of Meteorology, this season in likely to be even warmer and wetter than normal. This means there is an above-average danger of disasters such as bushfires and cyclones occurring around the country.
In the face of this risk, it’s essential that Australian businesses do all that they can to prepare, including getting adequate business insurance to ensure they remain protected.
The last disaster season led to insured losses of around $630 million and the upcoming one could be much worse.
Extreme weather on the horizon
In response to the worrying prediction for the coming disaster season, the Insurance Council of Australia (ICA) has called organisations and households to be proactive and ready themselves for possible flooding, cyclones, fires and storms. According to Rob Whelan, CEO of ICA, Australians need to check how well prepared they are for natural disasters in order to protect their property and assets.
“An above-average cyclone season has been forecast by the weather bureau, while the Bushfire and Natural Hazards Cooperative Research Centre predicts heightened risk across much of southern Australia, especially in New South Wales, Victoria and Western Australia,” he said. “Last disaster season brought insured losses of more than $630 million – and that was considered fairly benign. Australians must not underestimate the damage a severe season could wreak.”
One of biggest concerns for the ICA is that business owners and households are not fully aware of the risk.
“It’s shaping up to be a severe summer of natural disasters, and insurers and emergency services organisations across Australia are concerned many households and businesses are not prepared,” said Mr Whelan.
How can business get ready for disaster season?
Insurance information resource Understand Insurance points out some of the most important actions to take in the lead up to the disaster season:
Establish clear plans for communication, evacuation and the management of disasters.
Take inventory of your assets so you will be able to assess damage easily.
Make sure you are aware of the hazards that most commonly affect your region.
Check that safety measures such as fire alarms and emergency exits are in good working condition.
Above all, businesses need to make sure they have the right cover to safeguard them against the cost of extreme conditions and disasters. This could mean getting crop insurance to protect your yield, or perhaps cover for your business premises. Whatever you need, MGA is here to help, so contact us today.