Every 5 minutes a business in the US has a fire. 300 each day. Some are little fires. Some are devastating fires.
Thousands of businesses are impacted by windstorms, water damage, lightning strikes, floods, and vandalism every year. Let's say 100 each day.
That is one business hit by catastrophe every 3.5 minutes, every day, all year long. That's almost 150,000 businesses every year.
Then there are the lawsuits. The US Department of Justice estimates that there were about 27,000 civil trials in state courts in 2005. US district courts see about 49,000 trials each year. That's 76,000 civil trials in the US. Let's assume that half of them are against a business. We are talking about 38,000 lawsuits.
In all, 188,000 businesses face catastrophe each year. That's more than 500 business catastrophes every single day.
Now, how about that business insurance review?
Thousands of businesses are impacted by windstorms, water damage, lightning strikes, floods, and vandalism every year. Let's say 100 each day.
That is one business hit by catastrophe every 3.5 minutes, every day, all year long. That's almost 150,000 businesses every year.
Then there are the lawsuits. The US Department of Justice estimates that there were about 27,000 civil trials in state courts in 2005. US district courts see about 49,000 trials each year. That's 76,000 civil trials in the US. Let's assume that half of them are against a business. We are talking about 38,000 lawsuits.
In all, 188,000 businesses face catastrophe each year. That's more than 500 business catastrophes every single day.
Now, how about that business insurance review?
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