ADVERTISING FEATURE
BUSINESS RESILIENCE
SURVIVE & THRIVE WITH CONTINUITY PLANNING by Ian Sandham , Operations Manager at Mark Richard Insurance
Risk management often means planning for the unexpected . In order to ensure the viability of your business , you need to prepare for unforeseen disasters . These risks may include criminal activity , natural disasters or terrorist acts . Any one of these threats could be serious enough to devastate your business , but if you have readiness plans in place , you can work to minimise their impact .
Without prior planning , you leave your company open to financial disaster , especially if you are forced to close operations for a period of time . In addition , without a proper plan to cope with a disaster situation , your company may face legal actions from customers , suppliers or employees claiming negligence .
SECURE YOUR PREMISES One of your main security risks is criminal activity , including vandalism , theft and violence . Though not all security threats are avoidable , some situations are preventable with appropriate preparation .
• Advise management and employees to report any suspicious activity in or around the premises .
• Limit the number of entrances that customers may access . Consider locking any employee-only rooms , and keep cash on hand in a safe .
• Survey locks , fences , exterior lights and other physical security devices to ensure that they are in place and in proper operating condition .
• Evaluate critical locations in your business for proper security , including the electric , telephone and gas units , building entrances , transformers and outside storage units .
• If your facility has a security or fire alarm system , be sure it is operating properly and that key personnel know how to arm / disarm it .
• Closed-circuit television can serve as an excellent crime deterrent , and when the system is equipped with a recorder it can help solve crimes . Monitor all areas inside your facility , including areas where money or records are kept , along with the car park and area outside your building .
• Review your procedures for issuing facility keys . At a minimum , keep lists of who has been issued keys and have a procedure for handling a situation when a troubled employee is terminated without returning them .
• Discuss security with your local authority or police force . They are often very willing to provide information and support to local businesses .
PREPARE FOR A POTENTIAL DISASTER
• Evaluate which disasters are most likely to occur in your area . Be sure you are prepared for all of the risks you identify .
• Develop a Disaster Recovery or Business Continuity Plan . If you already have one make sure that it is up-to-date . This entails preparing for anything that disrupts your business operations and planning for a backup option .
• Have telephone call lists available for all key personnel so staff members can be contacted during non-working hours from any location . Review procedures for notifying employees that your premises is closed .
• Consider establishing an alternate method for your phone service if the switchboard becomes unusable ( such as forwarding incoming calls to a mobile phone or remote number ).
• Check available emergency supplies such as torches , batteries , emergency generators / fuel , patching materials such as plastic sheeting , duct tape , spare fire extinguishers , first-aid kits , etc .
REVIEW YOUR BUSINESS INTERRUPTION INSURANCE
• It is a stark fact that many businesses do not have sufficient cover to survive a major fire or flood . There are many factors to take into account so do speak with your insurance advisor to check you have the right cover .
• Keep copies of insurance policies and other critical documents in a safe and accessible location ( such as a fireproof safe ).
Many unforeseen threats could be serious enough to devastate your business , but if you have readiness plans in place you can work to minimise their impact .
WE ARE HERE TO HELP YOU WITH ...
• Business continuity planning advice and templates .
• Getting the right insurance cover to help you survive a major disaster and continue to thrive as a business thereafter
Call us on 0117 947 9510 to discuss your needs with on our experienced advisors . www . markrichard . co . uk COMMERCIAL 0117 947 9510 CAR AND HOME 0117 923 1330
THE BUSINESS EXCHANGE 2024 19