Tropical Storm Alex, the first named storm of the 2010 Atlantic hurricane season, is projected to reach Category 2 status (sustained winds around 110 miles per hour) before making landfall in northern Mexico or Texas later this week, according to the National Hurricane Center.

Offshore, Shell Oil said production was shut down at the Auger and Brutus platforms, and non-essential workers were evacuated from production platforms and drilling rigs in U.S.-regulated areas of the Gulf of Mexico oilfields.

"While hurricanes occur in the Atlantic Ocean and typhoons in the Pacific Ocean, both are tropical cyclones," said Fletcher MacGregor, Marsh Natural Hazards Practice Leader. "Storms of this magnitude will typically run into the hundreds of millions of dollar and can result in loss of life, flooding, inoperable roads and bridges, and a widespread loss of electrical power."

A business's susceptibility depends on a variety of factors, including the natural hazard’s proximity to its operations, suppliers' operations, and customers.

"There are a number of steps companies can implement — in advance of a storm, during a storm, and after the storm has passed — to protect the welfare of employees and property," added MacGregor.