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How businesses can recover from the bushfires

The world lost $150 billion due to natural disasters

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In 2019, 820 natural catastrophes were responsible for 9,000 fatalities across the globe. Image Credit: Christopher Furlong/Getty Images

It turns out that 2019 was an eventful year in many respects, but it saw headlines dominated by record-breaking natural disasters that came at a huge cost.

A new report issued by German reinsurance company Munich Re states that in 2019 natural disasters cost the world $150 billion USD, some of which are attributed as effects of climate change.

Documenting 820 natural catastrophes, including wildfires, floods, cyclones and typhoons, the report said that 9,000 people globally lost their lives due to natural disasters in 2019. This is a sharp decline from 2018, which recorded 15,000 global fatalities from natural disasters. Munich Re believes it is because of improved prevention measures.

Reviewing some of the most disastrous occurrences, Munich Re and Chief Climate and Geoscientist Ernst Rauch say that climate change is a contributing factor. The report discusses the “severe” bushfire seasons in Australia that stem from extremely high temperatures and dry air, which have resulted in large ecosystem losses.

Similarly, although the report noted that California’s wildfire season was “less severe,” it still acknowledged the long-term trend of forest destruction as a result of the fires. Speaking with CNN, Rauch stated that “What climate change does is change probabilities, so if we see an increasing probability of large losses from wildfires that…

 

How businesses can recover from the bushfires

 

With bushfires continuing to threaten individuals and businesses across Australia, recovery efforts are already underway.

The Commonwealth has extended its disaster recovery payment and disaster recovery allowances for people who have been significantly affected by or have lost income as a result of fires. For business that have suffered physical or financial damage, there are a number of additional services available to help make sure you’re up and running again as quickly as possible.

So far, disaster recovery payments and allowances have seen families, small businesses and farmers access more than $100 million worth of assistance.

The NSW Small Business Commission provides an in-depth Recovery Toolkit designed to act as a guide for getting back to business…

 

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