Before Hurricane Helene landed, the projected damage was a few billion dollars. After the storm, Moody's estimate was $425.9 billion. Now Hurricane Milton is bearing down on Florida's west coast. In short, the potential risk natural disasters pose to structures is massive and growing.

There are ways of addressing this in an unexpected future, like insurance, continuity planning, and improved resiliency. All of these and more can benefit from technology.

Start with planning and documentation. Any business, including one in commercial real estate, needs to plan what it will do given different scenarios. Power loss, flooding or drought, wind damage, earthquake, fire, riots — there are so many things that can go wrong. A smart business considers what could go wrong and then knows the potential of it happening. Plans should be documented, and this is where technology first comes into play.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.