Thomas Friedman’s book “The World is Flat” illustrated the tight-knit nature of the global economy. The recent natural disaster in Japan triggered by an earthquake, a tsunami and then worsened by nuclear power plant problems shows us exactly which industries are most affected by Japan’s woes.

Businesses, however, might not feel the financial sting from the cataclysm facing Japan if they’ve got the proper insurance, says Houston attorney attorney Phillip Sanov, head of The Lanier Law Firm's Bad Faith Insurance Practice Group.

“When those Japanese businesses are shut down, U.S. companies surely will see price increases and delivery delays,” says Sanov, “When Best Buy can't get the hot new gadget because of suppliers in Japan, that will have a direct and significant impact on their bottom line. Experience has shown me that local businesses should review their policies because many companies have coverage and don't realize it.”

While aid and prayers continue to pour toward Japan, companies at home and abroad need to consider what measures they can take to stem their losses as well.