Natural catastrophe risks are on companies’ radars, but could do better on plans to deal with them

A worldwide survey has indicated that while businesses agree that it is important to prepare for risks from natural catastrophes, significant steps need to be taken to improve planning and action for the most serious risks.  ‘Natural catastrophes: business risks and preparedness’, was conducted by the Economist Intelligence Unit, sponsored by the Zurich Insurance Group. IT disruption was regarded as the most severe risk, with most companies making some plans to tackle threats to IT systems, but these were not always comprehensive either in terms of responses to disruption or across the whole company. Almost a fifth of companies surveyed had no strategies in place to address IT risks from natural catastrophes.