Learning what went well and what didn’t is a particularly helpful exercise at a time when businesses, their employees and communities face the growing likelihood that they will be touched by some form of natural hazards. In fact, the World Economic Forum’s Global Risk Report 2019 ranks extreme weather events as the No. 1 global risk in terms of likelihood and third in terms of impact.
But uncovering what went wrong isn’t enough. Once an honest assessment of how the event was managed has been completed, the lessons that have been revealed must be turned into action. Relying on years of first-hand experience and extensive research, Zurich has brought to light a number of lessons that can be used to prepare for any sort of calamity in virtually any part of the world. Using its Post-Event Review Capability (PERC) methodology, the insurer is able to illustrate strikingly similar challenges faced by risk managers regardless of where they operate or the particular hazards they face.