SAN FRANCISO — Business recovery plans and enterprise risk management programs are among the strategies that can help risk managers tackle climate risks, experts said during a session at the Risk & Insurance Management Society Inc.’s Riskworld conference.
Retreating from climate risk isn’t an option because “people are always going to vacation where the earth moves and wind blows,” said Jennifer Pack, director of risk management at Hyatt Hotels Corp., which has a portfolio of more than 1,100 hotels and resorts in 70 countries.
Hyatt’s risk management focus is on making sure its hotels are protected properly and that they have a sound business recovery plan in place to ensure they can recover and get back into operation quickly, Ms. Pack said.
It sends engineers out on a regular basis to test the construction of hotel properties to make sure they can withstand hurricanes and floods, she said. “We don’t want guests worrying about the roof or walls flying off,” she said.
Ahead of hurricane season it also reaches out to its hotels to make sure they are ready and are testing their emergency preparedness plans and conducting…
