Achieving business resiliency to natural disasters through the lens of risk management and insurance
Abstract
Natural disasters have been occurring more frequently and with greater potency, creating a real and heightened financial and operational risk to businesses around the globe. This paper aims to enhance traditional business continuity techniques and strategies by discussing how risk management, insurance and claims knowledge can form a robust platform from which to minimise the impacts of natural disasters on business. To this end, the paper combines professional knowledge from the fields of risk management, disaster response and insurance claims recovery to offer best practices in the key phases of planning and response.
The full article is available to subscribers to the journal.
Author's Biography
Frank Russo is a founder of Procor Solutions + Consulting, a national consulting firm offering expertise in risk management, disaster planning, claim preparation, construction claims, insurance appraisals and dispute resolutions. Frank is a recognised thought-leader on the topics of business resiliency and financial recovery from business interruption losses. Frank is an alumnus of Rutgers University, holds an Executive MBA from the Lubin School of Business at Pace University; a Construction Risk Insurance Specialist designation; an Associate in Risk Management designation; and is a verified Cyber Insurance Risk Manager. In August 2018, Frank received the ‘Innovator in Finance’ Award from FiNext.
Tracy Alan Saxe is President of Saxe Doernberger & Vita, P.C. A skilled commercial litigator with more than 35 years of experience focused on insurance coverage, he handles cases involving coverage for comprehensive general liability, directors and officers, professional liability, builder’s risk, subcontractor default insurance, first-party property damage, additional insured, wrap-up policies, collateral disputes, cyber, reps and warranty, and business interruption claims. Mr Saxe frequently lectures on insurance coverage and has taught insurance law at Quinnipiac University.
Joe Poliafico is Vice President of Global Risk and Safety for First Onsite. With 28 years’ experience in the construction industry, he has extensive knowledge of risk assessment, disaster recovery planning, claims management and the design and implementation of corporate risk management programmes. He is a Certified Safety Professional with a degree in occupational safety and health from Millersville University and an MBA from Eastern University.
Citation
Russo, Frank, Saxe, Tracy Alan and Poliafico, Joe (2020, December 1). Achieving business resiliency to natural disasters through the lens of risk management and insurance. In the Journal of Business Continuity & Emergency Planning, Volume 15, Issue 2. https://doi.org/10.69554/EFKV4043.
Publications LLP