While there was still debate about the impact of climate change on inclement weather patterns, businesses needed to ensure they were prepared for those types of weather events, Ms Mason said. In the past 18 months, insurers had paid out more than $265million for 15 serious weather events in New Zealand, the largest being $91.4million for ex-cyclone Debbie, particularly in Edgecumbe. "Weather events may cost less than a serious seismic event but the increasing frequency and geographic spread of events showed every business in New Zealand should be prepared." New research showed insurance alone might not prevent a business from failing in the event of a disaster, Ms Mason said. The quieter summer period could be a good time for business owners to reflect on their business resilience plans, Ms Mason said.

Source: Otago Daily Times January 04, 2018 14:48 UTC