Will a Billion Dollar Diaster Affect Your Business?

June 6, 2023

Federated Insurance® Asks “Will a Billion Dollar Disaster Affect Your Business?”


When it comes to weather and climate disasters, the clock is ticking. As the likelihood of a major climate event impacting your business surges higher each year, disaster recovery planning is critical.

In 2022, the United States experienced 18 separate weather or climate disasters that resulted in at least $1 billion each in damages. These 18 events caused at least 474 direct or indirect fatalities — the eighth most disaster-related fatalities for the connected U.S. states since 1980, and damages from the 2022 disasters totaled $165.1 billion.1 

Should a climate or weather disaster strike, your employees and customers rely on you as a viable employer and community partner. You are essential to your community’s recovery efforts, so take action now. 

Find and review your county's hazard analysis or disaster mitigation plan to understand what events impact your geographic area. From there, develop a plan to respond to each of the identified risks, and that takes into account your business's essential operations, employees, equipment, suppliers, technology, and finance needs. 

Keep in mind that inflation and supply chain issues are rapidly increasing the cost of rebuilding following a disaster, so it is important to plan accordingly. Member clients are encouraged to leverage Federated Insurance disaster planning and recovery resources focused on hurricanes, tornadoes, wildfires, natural disasters, and more. 

All members are encouraged to review your policy limits and talk with your local Federated® Marketing Representative to help ensure that you have the proper coverage in place to fully recover from a climate or weather disaster.