California is getting closer to actually paying for the beginnings of an earthquake early warning system.
And while it might save lives if it’s ever funded by the state and then built, it won’t be of much help to businesses that will still be impacted by supply and distribution system disruptions, even when they might be at the other end of the state.
Prior to any quake, commercial property owners and their tenants should be sure they understand their degree of exposure either from a temblor that damages the structure or even quakes that happen elsewhere but impact supply lines, says Michael Brown, vice president of commercial property at Golden Bear Insurance Company in Stockton.
“There are no seasons for earthquakes. There are no early warning signs,” Mr. Brown says.
He offers examples and tips in this CVBT Video Interview:
“Any kind of disaster … is very traumatic for the people experiencing it,” Mr. Brown says. “Lean on your insurance company. Have a good insurance agent that helps that helps identify your exposures, insure the exposures you’re not prepared to retain financially, and then sit back and relax. We do this for a living.”
As to any early warning system for quakes, it may depend on whether the Legislature agrees with a revised budget proposal from the governor for as much as $10 million will be spent on the system in the fiscal year that starts July 1.