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While businesses with seasonal operations may face heightened challenges during busy months, the off-season can provide needed time for maintenance and repairs as well as planning for the next period of operations.
“Do everything you can in the offseason to go into that peak season prepared with business resiliency planning,” said Jack Holt, risk control consulting director for business resiliency for CNA Financial Corp. in Chicago.
“In the off-season, these parks are planning for the future, they’re planning for their next season and doing maintenance,” said Dave Harman, area vice president, Arthur J. Gallagher Risk Management Services Inc. in Bellevue, Washington.
The off-season also affords repair time, which helped East Coast businesses that suffered losses during Superstorm Sandy in October 2012, he said. Amusement parks and other operations hit by Sandy largely had the entire off-season to rebuild, he said.
“If you have a water park which operates 120 days,” a claim at the end of that period allows the operation more repair time than a claim at the beginning or middle of the period, Mr. Harman said.
“From the risk management side, it’s all preplanning, way before the season starts,” said Calvin Sugiyama, risk service specialist, for Allianz Global Corporate & Specialty SE in Beaverton, Oregon.
With summer in full swing, seasonal businesses such as resorts and theme parks face heightened exposures, but the variety of risks the facilities face across the year require a specialized approach to risk management, experts say.