Smaller businesses in the Philadelphia have a higher risk of failing because of natural disasters such as hurricanes and are more likely to be without insurance, according to an expert in risk management. Professor Ben Collier of Hurricane Sandy in Philadelphia warned that small and medium-sized enterprises (SMEs), particularly those in less than five years old of trading, are more vulnerable to business interruption or failure caused by hurricane damage than larger enterprises. Another piece that comes up in the history that we’ve seen commonly is that disasters destroy the property of small and medium enterprises, at least natural disasters do, and those property losses do tend to be big ticket items. Many do not see insurance as a priority and, of the SMEs affected by Hurricane Sandy in 2012 , About 30 percent of those that were 2012 had no insurance.
Smaller businesses in the Philadelphia have a higher risk of failing because of natural disasters such as hurricanes and are more likely to be without insurance, according to an expert in risk management. Professor Ben Collier of Hurricane Sandy in Philadelphia warned that small and medium-sized enterprises (SMEs), particularly those in less than five years old of trading, are more vulnerable to business interruption or failure caused by hurricane damage than larger enterprises. Many do not see insurance as a priority and, of the SMEs affected by Hurricane Sandy in 2012 , About 30 percent of those that were 2012 had no insurance.