Risk & Business Magazine Miller Insurance Magazine Winter 2018 | Page 30

DISASTER PREPAREDNESS
THE VALUE OF
DISASTER PREPAREDNESS
FOR YOUR BUSINESS
D
isasters can have a huge impact
on your business even if you
are prepared. If you aren’t, the
damage could be catastrophic,
leading to slowed growth or
even a complete shutdown of your company.
Most businesses couldn’t afford to shut
down their operations for days or weeks
waiting for a cleanup, and some wouldn’t
even know what to do if a disaster were to
occur.
There are some simple steps you can take
in advance to know what to expect during
a disaster scenario and be prepared should
one strike.
UNDERSTAND YOUR VULNERABILITIES
This all starts with understanding your
vulnerabilities and preparing properly for
your region. To become better prepared,
consider the following:
• Get information outlining the types of
emergencies your region has seen in the
past and how those emergencies may have
impacted businesses in the local area.
• Find out how well your facility can
withstand damage and its general
proximity to disaster impact areas,
including flood zones, fault lines, power
plants, and other potential hazards.
• Understand the capabilities and skills of
your employees. Does anyone know CPR or
first aid? Are the roles of individuals clearly
defined?
• Have a list of emergency contacts and
an outline of when those agencies or
individuals should be contacted. This could
include the Red Cross, utility companies,
insurance carriers, local government
agencies, police and fire departments.
• Make sure you have and understand
insurance that is appropriate for your area
in terms of disaster. It is important to
remember that general business policies
often don’t cover disasters (particularly
earthquake and flood damage).
UNDERSTAND THE IMPACT A DISASTER
COULD HAVE ON YOUR BUSINESS
Depending on the type of disaster, the
impact on your business will obviously
vary. However, there are some things which
should be done regardless of the type of
disaster your company faces:
• Identifying a policy for employees which
outlines leave policies, sick policies, payroll,
Most businesses couldn’t afford to shut
down their operations for days or weeks
waiting for a cleanup, and some wouldn’t
even know what to do if a disaster were
to occur.
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