Tropical Cyclone Yasi made landfall along the northern coastline of Queensland, Australia yesterday, with sustained winds of approximately 150 miles per hour, according to news reports.

The Australian Bureau of Meteorology (BoM) said Yasi poses an extreme threat to life and property, especially between Cairns and Townsville. Powerful winds and heavy rainfall resulted in property damage in several towns, including Innisfail, Cardwell, Tully, and Townsville. More than 10,500 people have been evacuated, and around 90,000 households have lost power so far.

Several industrial and agricultural interests have also been affected by Yasi with many having to suspend operations.

Companies that operate in the affected and flood-prone areas should assess their exposures, and review their business continuity management (BCM) plans and insurance policies, as a natural disaster can have a significant impact on an organization’s operations.

Having clear, actionable plans in place before a natural disaster strikes can help an organization minimize damage to people and property and recover as quickly as possible, according to Marsh Risk Consulting.

For properties with possible exposure to strong winds, emergency preparations should be pursued in a timely manner as defined by emergency plans and pursuant to the latest advisories. 

Marsh will continue to monitor the situation and advise clients of necessary steps.  Clients in need of assistance related to this event should contact their Marsh client executive.

For real-time research and forecasts of natural catastrophes, please refer to Guy Carpenter's Cat Central bulletins.

For more information, please contact us at: contact@marsh.com.