The enormity of the destruction wrought by Hurricane Katrina on the communities of the US Gulf coast has yet to be comprehensively assessed. Already, though, the consequences for businesses around the world are beginning to become clear.
Insurance claims are expected to run to many billions of dollars, and the closure of oil refineries is causing a surge in fuel prices. Coming soon after last month’s severe floods in Switzerland and Austria, and with the Indian Ocean tsunamis fresh in the memory, Katrina has reminded us of the impact natural disasters can have on business – especially those that are unprepared.