On Bauer Business Focus — A conversation on preparing businesses for the upcoming hurricane season with Andrew Schneider, business reporter for KUHF 88.7 FM.
NOAA’s Climate Prediction Center forecasts the 2013 hurricane season to be extremely active, predicting 13 to 20 named storms, with seven to 11 of those becoming hurricanes. With these numbers well above the typical season, many businesses need to plan ahead, according to Dan Jones, clinical assistant professor of insurance and risk management at the C. T. Bauer College of Business at the University of Houston.
Jones stopped by Bauer Business Focus recently to discuss what business owners can do to prepare for the upcoming hurricane season.
“The way to protect against losing business is with insurance, unless you can move your business away,” Jones said. “There is a type of insurance called business interruption that is designed just for that type of threat.”
While having insurance is a great way to protect your business, he added, businesses do have additional options.
“Financially, there is not much you can do because you need the money now, but physically, businesses can do certain things,” Jones said. “You can buy flood coverage from the government, but there are limits to that.”
Click here to hear the full interview.