Today’s UK-wide snowstorm could cost the economy dearly, as sustained downfalls and continued weather warnings threaten people’s ability to make it into work, according to RSA.
The UK’s largest commercial insurer calculated that this current wintery spell could cost the economy £473 million per day based on conservative estimates that a third of the workforce will be significantly disrupted. This increases to a startling £629 million per day if 44 per cent of the workforce fail to make it in, as was widely reported in big freeze of January 2010.
RSA is advising businesses to take extra precautions to support continued trading during snowy times, such as the implementation of reliable home working processes and plans to cover unexpected team absence. Other recommendations include:
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