Weather: The $42 Billion-Plus Hit to the Bottom Line... and Counting

If the freakish weather in the latter half of August — Noah-like rain on the 14th, a rare earthquake on the 22nd, and, of course, Irene — did not convince you that weather-related conditions are the No. 1 emergency cost to building owners, perhaps the facts will: Overall 2011 losses before the August deluge, earthquake and Irene were estimated at $35 billion. The day after Irene had eased into Canada, damage from the hurricane was estimated at $7 billion... and the latest news accounts report the total property loss from Irene could be as high as $20 billion.

The number of natural disasters in the U.S. has tripled in the last 20 years and 2010 broke all records — even more than the year of Katrina. Sadly, after Irene, and with four months ahead of us, we have already broken 2010's record while setting another: New York City is the only major city in the U.S. to experience an earthquake, tornado, blizzard and tropical storm in the course of one year.

BOMA/NY’s Weather Subcommittee of our Preparedness Committee was formed earlier this year to tackle ramifications of weather and took the innovative approach of focusing our entire Annual Conference and Trade Show on Mother Nature, exploring the costs, liabilities and full range of economic, legal and insurance-related components.

Bringing you the latest information (see below) will be the founder of AccuWeather and experts from the fields of insurance, law, building codes and building ownership.

"We’ll also be assessing how we handled Irene and the lessons learned," said John Brandstetter, who heads the Weather Subcommittee. "The damage caused by this hurricane, on top of a very active year in property damage, will undoubtedly increase insurance rates. We’ll be addressing how our members can minimize increased rates and other factors by being proactive."

City Council Speaker Christine Quinn Headlining Conference

Helping us to launch our event will be City Council Speaker Christine Quinn, who was asked to speak on how capital improvements to our infrastructure are vital for New York’s future growth, but will also be discussing the city’s response to Irene. As speaker since 2006, Ms. Quinn has taken on a wide range of issues from updating and greening the New York City Building and Construction Code, to improving New York City’s economy. 

The conference is targeted to all levels of management and features the following:

Mike Smith, Founder of Accuweather/Senior Meteorologist
One of the world’s leading experts in the application of weather science, Mike Smith will open the conference with an overview of our weather and clear up the misunderstandings many people have about weather. He’ll also focus on how weather impacts the infrastructure of commercial buildings, including how "well-built" buildings can be damaged in extreme weather. Meteorologist, entrepreneur and inventor — and recipient of 18 U.S. and foreign patents — Smith has worked with some of North America’s most important companies to save lives and property. He also develops technology to warn the general public of dangerous weather. 

Insurance: FM Global
This important segment will focus on how building owners can be more proactive and build a relationship with their insurer to mitigate damage before a weather event occurs. It’s essential owners and managers understand insurance responsibilities before an event — the consequences will be hard to stomach afterwards! Details were being finalized with the speaker at press time.

Legal: John E. Osborn, Esq., John E. Osborn P.C.
John Osborn will demystify the legal ramifications of a weather emergency by walking you through a typical commercial lease and discussing the implications severe weather would have. He’ll also discuss the due diligence all building managers must take to protect them from weather-event liability. A practicing lawyer specializing in construction and the environment for more than three decades, Osborn has litigated insurance coverage disputes, defended mass toxic tort claims and published more than 100 articles relating to construction law, effective contract drafting and environmental risk management and regulations.

Structural: Gary P. Mancini, P.E., LEED AP, Thornton Tomasetti
Gary Mancini, whose firm is investigating the recent fatal stadium collapse at the Indiana State Fair, will illustrate how buildings can react structurally in severe weather, including effects on the building envelope. He will outline steps owners and managers can take to harden their buildings, especially those with a high percentage of glass on the facades. Mancini heads the building envelope forensic practice in Thornton Tomasetti’s New York City office, and is responsible for the design of new structures, major renovations and the rehabilitation of older and historically significant structures. During his more than 20 years of experience, Mancini has developed and supervised a variety of façade evaluations, structural investigations, feasibility studies and forensic analyses.

Building Code: Michael Alacha, PE, Assistant Commissioner for Engineering & Emergency Operations, NYC Department of Buildings (DOB)
Speaking from the perspective of the new NYC Building and Construction Codes, Michael Alacha will advise owners and managers on how they can be held liable for failing to take code-mandated action. He’ll also discuss what owners and managers are expected to do to comply with DOB weather advisories. Alacha is responsible for running the DOB’s Emergency Operations Center, and in times of severe weather or major accidents, his team assesses the damage and deploys structural engineers to perform safety checks. He was appointed assistant commissioner of engineering and emergency operations in 2007. 

Building Owner: Hani Salama, PE, LEED AP, Sr. VP of Property Management and Operations, Monday Properties
Hani Salama will discuss how his company’s building teams -- across a varied portfolio of historic landmarks, pre- and post-war structures -- prepared for the threat of Hurricane Irene and responded to the weather crisis once it arrived. He will also focus on how simple but proactive steps can effectively mitigate risk. A building professional with more than two decades of experience at some of the country’s most prestigious properties, including the Empire State Building, Salama has led Monday Properties in LEED and Energy Star initiatives, as well as major capital improvement renovations, throughout the east coast.

Your e-vites for the conference, trade show exhibitor/sponsorship materials and the networking reception that follows have already been emailed. If you have any questions, please contact Sylvester Giustino at 212-239-3662 or sylvester@bomany.com.

BOMA/NY
http://www.bomany.org/