August 6, 2014 / by KMRD Partners / Insurance Coverage, One Minute From Normal Series / 0 comments
According to scientists, Gulf Stream water currents in the Atlantic Ocean have slowed to their weakest level in 1,000 years, threatening shifts in U.S. and European weather, as well as rising coastal sea levels including in New York and Boston. Pennsylvania is considered to be one of the most flood-prone states in the nation, with […]
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Don’t Forget To Test Your Business Continuity Plan
September 1, 2015 / by KMRD Partners / Insurance Coverage, One Minute From Normal Series, Risk Control / 0 comments
According to a recent survey of over 500 midsize business owners and C-level executives in the US, 59% had a formal, documented business continuity plan and 33% had an informal, verbal plan. 8% had no plan. Of those businesses with continuity plans, only 19% had actually tested them. (source: The Hartford) Additionally, the survey found […]
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Risks Ahead. Business Interruption Coverage – Climate change has become big business.
August 6, 2015 / by KMRD Partners / Risks Ahead Series / 0 comments
According to Climate Change Business Journal, the climate change consulting market is valued at $1.9 billion worldwide. With more tornadoes than any other country in the world, nearly half this amount is spent in the US. Up to 60 people die in U.S. tornadoes each year. Up to 1,500 people are injured in U.S. tornadoes […]
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Risks Ahead. As temperatures climb, so will the risk off premises power interruption.
July 21, 2015 / by KMRD Partners / Risks Ahead Series / 0 comments
By 2050, the average number of heat waves each summer in our area may grow from two to six. Heat waves will be longer, lasting five to six days each. During peak summer hours, wires and feeders around New York City carry almost twice the amount of wattage as they do on a winter day. […]
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Risks Ahead. Did you know?… Catastrophe risk
July 9, 2015 / by KMRD Partners / Risks Ahead Series / 0 comments
“The frequency of catastrophic events appears to be increasing, with a record number of catastrophes last year,” according to Swiss Re’s chief economist. 1. A record 189 natural catastrophes were recorded in 2014. 2. The most costly insured catastrophe loss in 2014 came from lightning and hailstorms in the United States in May, resulting in […]
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Could You Lose Your Business Due to a Flood?
August 6, 2014 / by KMRD Partners / Insurance Coverage, One Minute From Normal Series / 0 comments
According to scientists, Gulf Stream water currents in the Atlantic Ocean have slowed to their weakest level in 1,000 years, threatening shifts in U.S. and European weather, as well as rising coastal sea levels including in New York and Boston. Pennsylvania is considered to be one of the most flood-prone states in the nation, with […]
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Are You Ready for Hurricane Storm Surge Risks?
July 6, 2014 / by KMRD Partners / One Minute From Normal Series / 0 comments
At our website www.oneminutefromnormal.com we ask visitors the question: What if an unscheduled event suddenly seizes control of your business? Are you ready? More than 6.6 million homes on the Atlantic and Gulf coasts are at risk of hurricane storm surge, according to a report released by property analytics and data provider Core Logic. The […]
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Are you ready for your company’s cyber doomsday?
April 3, 2014 / by KMRD Partners / One Minute From Normal Series / 0 comments
Last week, an insurance industry executive testifying before the Senate Committee on Commerce, Science & Transportation at a hearing on “Protecting Personal Consumer Information from Cyber Attacks and Data Breaches,” reported that clients purchasing stand-alone cyber insurance increased by more than 20% in the past year. His appearance followed by one day Senator Jay Rockefeller’s […]
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Fire On the Boardwalk – Why business interruption coverage is a crucial element of a comprehensive risk management plan
September 18, 2013 / by KMRD Partners / One Minute From Normal Series / 0 comments
It seemed inconceivable New Jersey’s Seaside Heights would be one minute from normal for a second time in two years. Yet, that is exactly what happened when wind-blown fire destroyed six blocks of boardwalk and nearly 50 businesses. Since fire is covered by a standard commercial insurance policy, businesses with adequate coverage will be compensated […]
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Is the Atlantic coast all clear? Getting Ready for Hurricane Season
September 5, 2013 / by KMRD Partners / One Minute From Normal Series / 0 comments
In May, the National Oceanic and Atmospheric Administration predicted a “very active” Atlantic hurricane season and reported it expected between seven and eleven hurricanes. And yet, although Monday was the midpoint of the hurricane season, which ends November 30, so far there hasn’t been even one hurricane. Does this mean we are in the clear? […]
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Hurricane Season – Here we go again
June 6, 2013 / by KMRD Partners / One Minute From Normal Series / 0 comments
Even while post Sandy restoration efforts continue along the Jersey Shore, the NOAA’s Climate Prediction Center has reported there is a 70% likelihood of 13 to 20 named storms in the Atlantic this year. 7 to 11 of these storms may become hurricanes, while 3 – 6 may develop into Category 3, 4 or 5 […]
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