Sean Kevelighan, CEO of the Insurance Information Institute, said: “Business owners, by their very nature, are risk takers. That’s how they became so successful. But smart entrepreneurs also recognize insurance and risk mitigation are essential elements to an overall business plan.” (Credit: Shutterstock.com) Sean Kevelighan, CEO of the Insurance Information Institute, said: “Business owners, by their very nature, are risk takers. That’s how they became so successful. But smart entrepreneurs also recognize insurance and risk mitigation are essential elements to an overall business plan.” (Credit: Shutterstock.com)

Fires started by lightning strikes are the cause of 3%-5% of all U.S. commercial property insurance claims, according to research from the Insurance Information Institute (Triple-I) and the Lightning Protection Institute.

Cumulatively, lightning-related fires account for $2 billion in annual payouts to small- and medium-sized businesses.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected].  

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