The recent surge in extreme weather events has local business owners re-examining their insurance policies to ensure adequate coverage.
Learn How to Build a Disaster Ready Continuity Plan
Identify Potential Risks
The first step towards building a solid continuity plan is identifying potential risks. Analyze your business to discover how power outages caused by natural disasters, cyber-attacks, or vandalism can interrupt your business.
List the critical functions of your business and determine how much downtime could cost in the event of a business interruption. Include estimates for lost sales and revenue.
Create an Action Plan
Create a clear plan of action for minimizing the effects of a shutdown and communicate it to your team. Your action plan should include safety information, evacuation procedures, key emergency contacts, and predetermined checkpoints to account for each team member during a sudden crisis.
Devise a plan for staying in contact with employees, customers, and suppliers during downtime using emergency management tools, SMS messaging, email, or specialized apps.
Secure Your Business Data
Make it a regular practice to create a backup of critical company data and secure that information to protect your computer systems and mobile devices against cyber threats and attacks.
One of the most crucial steps to ensure continuity and planning for financial support in the event of an unexpected disaster is to review your commercial insurance policy and coverages with a trusted local agent.
Contact an agent at Advantage Service Insurance in Erie, CO, to ensure that your policy aligns with your business’s ever-changing needs and that you have adequate coverage to recover quickly should the unexpected strike.
