In the past few months, the United States has witnessed a spate of natural disasters. Along with Hurricane Irma, Harvey, the first major hurricane to make landfall in the United States since 2005, is reported to have caused damages worth $200 billion on the local economy. The tiny economy of Puerto Rico has been staring at a $95 billion loss after Hurricane Maria ravaged the island in September this year.
These are not isolated incidents. Business losses owing to floods, fire, hurricane and earthquakes are only going to increase as people migrate away from the country side to cities. As a small business owner, the losses from such disasters can be quite painful.…
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