Climate change. Increased natural catastrophes. Property damage. Who’s to blame? Is it Mother Nature or the CFO?
FM Global’s new white paper, “Master the Disaster: Why CFOs Must Initiate Natural Catastrophe Preparedness in 2019 and Beyond,” indicates the blame lands squarely on the individual that owners and shareholders can access—the CFO.
With institutional investors saying enhanced reporting of natural disaster risks has become a priority, Kevin Ingram, executive vice president and CFO at FM Global, notes, “If the CFO doesn't lead the charge to invest in reducing natural-hazards exposures, they will be the ones that stakeholders hold accountable for not properly addressing the risks.”
The study is based on an analysis of 10-K filings of nearly 100 public companies, many of which suffered property damage and business disruption from hurricanes in 2017, with losses ranging from a few million to hundreds of millions of U.S. dollars.
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