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Water damage consistently ranks as one of the most common reasons for insurance claims among businesses. Water damage is not only expensive—it can also create potential health risks and bring the productivity of your business to a halt, costing you time and money.
According to Aveco, 20 percent of companies will suffer fire, flood, power failures, terrorism or hardware or software disaster. Of those without a Business Continuity Plan:
* 80 percent will fail in just over a year
* 43 percent will not even reopen
* 93 percent that experience a significant data loss are out of business within five years.
Fortunately, a variety of low-cost preventative measures can help reduce the threat of water damage to your business. While water damage is usually associated with flooding, the most common sources of water damage are often overlooked by businesses. We can help you identify and mitigate those risks.
How Can Thor help you Mitigate your Water Damage Exposure?
We can develop a risk management plan that identifies your company’s water damage exposures. Once we identify those exposures, we can help you buy proper water and flood damage insurance, build a water damage prevention plan, so if damage happens, you can get back in business as quickly as possible. We’re always here when you need us.
Water and Flood Damage Risk Management
Risk Insights – Preventing Commercial Water Damage
RI – Restoring Your Business After a Flood