"It can take years for a business to recover from a serious flood," Erik Olsen, senior vice president and leader at the Property Center of Excellence for Chubb North America, said in the report. "With a holistic understanding of their flood risk, businesses can prioritize investment resources and make actionable plans to address worst-case scenarios and create business continuity." Credit: bilanol/Adobe Stock
A majority of U.S. businesses are unprepared to face flooding risks, according to Chubb's "Rising Waters" broker survey, which found that 85% of companies mistakenly think property insurance will cover "all or most" types of flooding.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
