Abnormal flooding in KZN earlier this year caused huge losses for many businesses. You’ve probably read about the collapsed water infrastructure that added to the catastrophe. One motor manufacturer suffered a loss of about R10 billion. A high number of lives were lost in the flooding.
Flooding occurs in this country often enough. The flooding in KZN made many of us realise how bad things can get with the ever increasing risks of global warming.
Some may also ask whether this event was a once-off, a black swan, or whether the risk of flooding in this country is increasing with rising temperatures?
I recently came across a flooding index by Marsh McLennan. If you go to the link below, you can look at the flooding risk map and see how the company has rated flooding risk in South Africa.
Their website also has interesting articles on flooding risks and the consequent human, economic, and infrastructure costs.
The risk of flooding needs to be more carefully analysed and rated by businesses in this country. The risk assessment would start with analysing factors such as rainfall, previous flooding history, and local water infrastructure weaknesses for the area that the specific business is located in.
Although it’s difficult to predict events such as flooding and their intensity, it’s no use sitting back and saying “it won’t ever happen to us.” It’s best to take your business continuity practitioners seriously and let them help you identify the risk of flooding and what actions can be taken to mitigate business disruption through flooding.
Click here for the link to the flooding risk map.
PS: Marsh McLennan is a leader in risk, strategy and people, helping clients navigate a dynamic environment through four global businesses.