clock September 2, 2014 comments No Comments flowchart Business InsuranceOur Blog tag Property MaintenanceSafetyWeather

Are you in Disaster Denial?

Disaster Denial refers to those businesses who think they will stay afloat after a disaster occurs, or who haven’t even thought about what would happen in the event of a disaster. We want you to be Disaster Prepared!disaster

In 2012, Travelers Insurance conducted a study where 48% of small business owners said they believe the world is growing riskier by the minute. Ironically, that same study generated the results that only 25% of small business owners said preventing, preparing for and responding to risk is a strategic priority. So what is the reason for the disconnect? If a disaster affected your business, are you prepared?

Disasters can generally be categorized into 3 different types.
Natural Perils: i.e. earthquakes, hurricanes, wildfires
Manmade Perils: i.e. fire, terrorism, workplace violence
Technological Perils: i.e. cyber breaches, software corruption, system failures
Making sure your business is prepared for any disaster is critical to if or how your business will survive afterwards.

Here are some tips to prepare your business for any kind of disaster:

Develop a Solid Stability Plan
– Having a workplace disaster plan in effect will help you should a disaster strike. It could also position you at an advantage over your competitors who may not have had the same foresight.

Put Your Plan to the Test
– Your plan may look great on paper, but making sure it would work is just as important as crafting the plan! It’s important to test numerous simulations and scenarios. Everyone, including all employees, needs to be on the same page for it to work efficiently and effectively.shutterstock116530105

Employees Are Your Backbone
– Employees are essential to recovering your business and helping your clients through a large scale disaster. Always make sure you have a way to ensure the safety of your employees!

Communication is Key
– If a disaster should happen that disrupts normal business operations, it’s important that people know what you are doing about it. To communicate with employees, set up a basic employee calling tree. To communicate with the public, post the information via social media outlets, on your website, and via mass email if possible.

And last, but certainly not least:

Check Your Insurance!
– Make sure you review your insurance policy prior to a disaster. Understand what you are covered for and how much coverage you have. Make sure you have Business Income and Extra Expense coverage, which covers loss of income when operations are suspended from a loss.

Call Loiselle Insurance at (401) 723-8510 or visit us online to make sure you have the proper coverage for your business! Our Commercial Lines Representatives, Rosalynn Davila and Micki Veerman, would be more than happy to assist you!

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