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Katrina The Most Costly Hurricane In US History
According to The Federal Emergency Management Agency, insurance claims for Hurricane Katrina alone amounted to about $23 billion and reconstruction costs are estimated to be at least $200 billion, making Katrina the most costly hurricane in history.
With the 2006 hurricane season just six months away, experts are advising both the public and private sectors to be prepared. A leading tropical forecast team, led by scientist Philip Klotzbach and Professor William Gray, said that the 2006 seasons will be "very active," with a well above average number of storms. The first outlook projects 17 named tropical storms in the June though November season. In a normal year, the Atlantic basin produces about 10 storms. Klotzbach's and Gray's team also foresee that nine storms next year will become hurricanes, five of them major, with at least Category 3 intensity (winds 111 mph or more). Unfortunately for citizens of the Atlantic Coast, the team's forecast also predicts an 81 percent chance that at least one hurricane will strike the US.
It is important to begin planning now. As a commercial property professional, make sure that your emergency strategy evolves with the ever changing dynamics of your business environment. Do you have a plan? When was the last time that you took a look at it? Are all parties involved in the plan aware that it exists and of their respective roles? Have you practiced your plan? A successful emergency preparedness plan is a "living" document that needs constant review. Protect your commercial real estate investments by making sure that your emergency preparedness plan is ready for the upcoming 2006 hurricane season.
Let BOMA International help. Everything you need to develop, assess or re-evaluate your emergency preparedness plan is available in The Property Professional's Guide to Emergency Preparedness and Are Your Tenants Safe? Both publications cover planning for the multitude of situations that property professionals encounter both natural and man-made disasters. Order now and be prepared. www.boma.org
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