Across the U.S., severe weather is on therise. As winter draws to a close, Mother Nature willnow phase into its next cycle: spring storm season. Withoutinsurance, damage from spring storm season will hit small-businessowners the hardest. 

Nationwide's annual Small Business Indicator survey revealed thata majority (68 percent) of small-business owners don'thave a written disaster recovery plan — even though about half (49percent) said it would take their business at least three months torecover from a natural disaster.

The survey was conducted by Harris Poll on behalf of Nationwidefrom June 10-23 among 502 U.S. small-business owners with fewerthan 300 employees. The survey found that: 

  • 71 percent of small-business owners don't have businessinterruption insurance, which can be vital to survival since anestimated 25 percent of businesses never reopen following a majordisaster
  • 21 percent of small-business owners without a written disasterplan said they don't have one because it's not a high priority forthem
  • 22 percent of small-business owners have already been impactedby a natural disaster asked Mark Anderson,a Nationwide catastrophe expert with 40 years of on-the-groundcatastrophe experience, who reported on Nationwide's survey last year,what small-business owners should do to prepare. 

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Denny Jacob

Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].