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Chamber to host seminar on Disaster Preparedness, Business Continuity and the Role of Insurance

PRESS RELEASE – ONLY one in twenty five businesses affected by severe disasters never reopen the doors again.”

This frightening statement underscores the importance of business continuity planning and disaster preparedness particularly after the terrible 2017 Hurricane Season experienced in the Caribbean.

Two back-to-back Category 5 Hurricanes, Irma and Maria, bring to the fore the importance of Insurance not just for homes and personal property, but for Businesses.

At the Chamber 133rd Annual General Meeting, it was revealed that in the region estimates are that only 20% of all buildings are insured and approximately 80% of that group are under insured.

Understanding how firms, large and small can mitigate their risks and give themselves a chance to regroup and continue in the event of disasters, natural or manmade is the purpose of a one day symposium being organized by the St. Lucia Chamber of Commerce, Industry and Agriculture titled “Disaster Mitigation in a New Climate: Business Continuity and Insurance” on 8th May 2018 from 9:00am-3:30pm at the Finance Administrative Centre.

The impact of climate change means that there is sure to be more frequent and more powerful weather phenomenon in our vulnerable region.

Earthquakes, tsunamis, volcanic eruption and yes, manmade cyber- attacks are real threats and possibilities which smart businesses plan and take account of in their modern operations.

With another hurricane season quickly approaching and the devastation Hurricanes Maria and Irma inflicted still fresh in the minds of many persons, the Chamber believes this symposium will be a stepping stone to better prepare businesses for the what if.

With proper planning, appropriate knowledge and relevant information from industry experts we can prepare ourselves for a possible “day of reckoning”.

The objective of the seminar is to inform and educate the business community and general public on how risk management measures generally and insurance in particular, can be used as effective tools in mitigating the risks faced and recovering from any occurrence.

The Chamber invites all persons to be a part of this discussion of national importance.

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