High Water and Hard Truths: What Every Small and Mid-sized Business Needs to Know About Flood Risk
In September 2024, Tropical Storm Helene caused widespread devastation in Western North Carolina and East Tennessee. Floodwaters damaged properties, disrupted power and utilities, and left roads impassable, forcing many businesses to halt operations.
In a recent article published by The TJB American Business Magazine, Randy Sadler of CIC Services discusses how Hurricane Helene extended the financial strain beyond physical repairs to prolonged interruptions, with many owners questioning whether they could reopen. The crisis highlighted gaps in traditional flood insurance, including exclusions for business interruptions, inventory replacement, and risks outside designated flood zones. Despite these policies, a significant number of businesses remain underinsured or completely uninsured.
This storm underscores the importance of comprehensive preparation, risk management, and innovative financial solutions to help businesses recover and thrive after disasters.
Read the full article here. Learn how captive insurance can protect your business from escalating risks.