Hurricane Season Threatens Thousands of Underinsured Small Business Owners

On the Anniversary of Hurricane Katrina, BOLT Insurance Agency Urges Small Business
Owners to Protect Themselves and Their Businesses


Farmington,CT –August 22, 2011 – On the eve of the anniversary of Hurricane Katrina, BOLT (Business Owners Liability Team), a leading insurance agency that exclusively protects small business owners, urges small business owners to prepare for and protect themselves from natural disasters that can destroy their businesses.


“Each year, disasters force thousands of businesses to close, and our research shows that more than 25% of those businesses never reopen,” said Tom Hammond, EVP of Operations at BOLT. “Planning for and protecting themselves from a natural disaster is imperative for small business owners to mitigate this risk. Unfortunately, nearly 90% of those we speak with are underinsured or not insured at all, leaving them and their businesses extremely vulnerable to hurricanes and other natural disasters.”


Considered one of the five deadliest hurricanes in the history of the United States, Hurricane Katrina is estimated to have caused nearly $42 Billion in damages by some accounts and more than $80 Billionby others. Since 1989, there were at least eight other hurricanes that each caused more than $5 Billion in damages. Additionally, the National Weather Service increased their estimate of the number of named storms in the 2011 Atlantic hurricane season.


“There is no area of our country that is 100% immune to natural disasters,” added Hammond. “Whether it’s hurricanes, tornados, floods, hail, fire or some other disaster, these unexpected natural occurrences cost billions of dollars each year. In the case of a small business owner just one disaster can cost much more, including hisor her livelihood, security and personal assets. The only way for small business owners to protect themselves and their businesses is to create and implement a Business Continuity Plan to identify the company’s exposures internal and external threats and effectively keep the business operating in time of crisis.”


According to the U.S. Small Business Administration, “Small business owners invest a tremendous amount of time, money and resources to make their ventures successful, and yet, while the importance of emergency planning may seem self-evident, it may get put on the back-burner in the face of more immediate concerns. For small business owners, being prepared can mean staying in business following a disaster.”


An infographic released last month by BOLT illustrates the staggering impact of natural disasters on small business and the steps owners can take to protect themselves and their businesses. Additionally, BOLT’s Disaster Recovery Planning Checklist for Small Businesses can be downloaded at


BOLT exclusively focuses on protecting the small business owner by providing access to top markets and carriers online, with immediate quotes and expert guidance. Using its proven Web-based technology,BOLT collects all underwriting information required by top-line carriers, and allows business owners to view proposals online within minutes. Through the strength of its technology platform, processes and team of experts, BOLT delivers a unique “high tech/high touch” approach to serving the very specific needs of small business owners.


About BOLT

BOLT, the Business Owners Liability Team, is a national insurance agency that exclusively protects the owners of small businesses. Business insurance policies offered by BOLT include, but are not limited to, General Liability, Business Property Insurance, Workers’ Compensation, Commercial Auto, Umbrella Insurance, Errors and Omissions, Directors and Officers, Business Interruption, Employment Liability, Sexual Harassment and Flood.  These policies are provided by top-rated insurance carriers such as The Hartford, CNA, Liberty Mutual, Zurich, Ace and Chubb. BOLT Insurance Agency is headquartered in Farmington, CT, and is licensed to do business in all fifty states. For additional information, visit the BOLT website at


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Media inquiries:
Josh Baker
Director of Marketing
BOLT Insurance Agency
[email protected]