A new year is here, and while only time will tell what the future holds, the past has taught our industry that there will always be an element of risk and uncertainty in this world. More importantly, the unimaginable occurs when you least expect it.

Crisis does not distinguish its victims.

No one is safe or immune, whether your business is an international giant, a national corporate chain, or a mom-and-pop shop. The scale and magnitude of a crisis may differ, but the potential consequences can be devastating to all.

In some cases, crisis means tragedy in the form of mass casualties; in others, it can mean massive property damage, widespread health consequences, or large-scale interruptions to businesses.

The economic consequences of a crisis have an incredible impact measured in billions of dollars. In 2022, there were a number of catastrophes, both natural and man-made, with devastating results.