Does Your Business Have a Disaster Plan?

Does Your Business Have a Disaster Plan?

Would your business be able to survive a disaster?

If a natural disaster were to disrupt your business, would you be able to pick up the pieces financially? Unfortunately, breezing your way through a natural disaster is not easy.

Natural disasters interrupt your business for days, months, with the potential of your business never being able to reopen. It’s estimated that 1 in 4 companies never re-open their doors after a disaster, with 1 in 5 businesses experiencing a business disruption. Even though nature tends to be unpredictable, you can still take action to protect your business! Set up a disaster plan, so should tragedy strike, you and your team know what to do.

When creating your plan, be sure to include:

Direction and Control
This area of your business continuity plan will give a summary of fundamental areas. While explaining the reasons for this program, it should be noted whose responsibility it is overseeing duties, and the incident workflow.

Increase the safety of individuals and the property by clearly communicating during an emergency. Determine the location of emergency contact information, who notifies employees, and how customers and suppliers would be informed if something were to happen.

Safety of People
Inform your employees of the proper procedures to follow incase of an emergency to ensure staff safety. Safety training, shelter locations, check-in sheets, and even family preparation for employees should be established in this section. 

Property Protection
Trying to replace a business’s property can be an enormous financial burden. Ensure that you protect your investment in an emergency; Create mitigation steps for each threat, for example in the case of a fire, you should have a backup records procedure, along with fire protection systems labeled.

 Recover and Maintain
If the unexpected were to happen, you should know how to get your organization back up and running again in the most efficient way. It should be noted who will hire new employees, what employees will be kept on, and what are the expectations of your team. To prepare everyone in the company of an emergency, there should be multiple drills, exercises, and audits every year.

Recovering your business is no small fete! We can help make at least one part of it simpler, by assisting with your insurance needs. Contact CAV Insurance to learn more about your options for business insurance in Wellesley and surrounding cities in MA. We can help you assess your needs and determine ways for you to save!