Got Earthquake Insurance?
Every year businesses temporarily shut down – or close forever – because of a disaster. The 6.4- and 7.1-magnitude earthquakes which struck near Ridgecrest, California, late last week are stark reminders of a quake’s ability to disrupt a business’s operations. Even though many California businesses are in seismically active areas, only one out of 10 commercial buildings are insured for quakes, according to the California Department of Insurance. And according to Federal Emergency Management Agency estimates, more than 40 percent of U.S. small businesses do not reopen after a disaster impacts them.