Page 14: of Maritime Reporter Magazine (July 2011)

14Maritime Reporter & Engineering News MARINE INSURANCECOLUMNGoing Beyond Just Talking about the Weather y ichard eSimone, President Travelers cean arine Natural disasters occur on their own timetable and can leave devastating re- sults that no one expected. Mark Twain almost had it right when he said, ?Every- one talks about the weather, but nobody does anything about it.? While we can?t change the weather, the insurance industry has been helping peo-ple both prepare for and recover from it for many years. Against the backdrop of recent severe storm activity, it?s impor- tant to remember that marine transporta-tion and service companies can take concrete steps to reduce their economicexposure to maor weather events. By considering the potential impact of amaor storm in advance, maritime busi- nesses can develop business continuity plans designed to minimize business dis- ruption and speed the recovery process. Insurance companies and agents can beexcellent resources to ensure that the plans are as effective and current as pos- sible.STPS T I TH WST Weather may be unavoidable and often unpredictable ? but planning can still make a difference. Before a disaster, companies can be prepared with protec-tive measures and guidelines so that no one has to decide what should be done inthe heat of the moment. Factors to con- sider include:Protecting assets. Whether a busi- ness is operating tug boats or charteringyachts, they should have a plan for mov- ing the vessels out of harm?s way. A ship- yard may want to sink dry docks, board up windows and take other steps to pro- tect property. A marina can look at ways to better secure moorings, or haul vessels out of the water. Identifying needed resources. Many weather events are preceded by warnings, giving businesses time to prepare. But will they have adequate staff to take pro- tective measures ften, employees or crew members live in the same area and may be busy sandbagging their homes or helping their families out of harm?s way. About the AuthorRich DeSimone is president of Travelers Ocean Marine. He can be reached at [email protected]