We spend a lot of time talking about how homeowners can prepare themselves and their homes for hurricane season, but it’s important to guide businesses and business owners as well. Storms, earthquakes, and wildfires challenged various organizations, employees, insurers, claims adjusters and consultants, governments, utilities, vendors, and suppliers throughout 2017. Read that again – these disasters don’t just affect the business and day to day operations, they also interfere with those working in or around those companies and their supply line, which affects business even after storm recovery. Organizations without adequate and tested risk management and business continuity plans had difficulty obtaining qualified expertise, equipment, labor, power, and fuel.
With all of that in mind, check out these four tips to keep your business as ready as possible for the upcoming hurricane season.
1. Review Your Business Continuity Plans & Supply Chain Network
Your operations and supplier’s operations could be affected by storms
Know specific locations of your suppliers and their suppliers to better ensure business continuity
Consider alternate suppliers and shipping methods to prevent or limit disruptions to your supply chain
2. Help Your People!
Before storms: help employees prepare, including getting them to safety or allowing them time to evacuate
During & After: stay connected with them and be ready to support with humanitarian assistance – including guidance on handling their insurance claims
3. Understand Your Coverage & Claims Process
Be sure to understand: key definitions, sub-limits for flooding, and other coverage areas/other terms in your policy
Establish a framework and protocols with your insurers for gathering information and filing a claim after a storm
4. Know Your Property
Start by verifying your property’s conditions before a storm – this is critical to indemnification in the aftermath
In verifying your property’s pre-storm conditions, use anything from receipts for improvements to official records or visual documentation. Also gather imagery from satellites, drones, and helicopters – this will provide you, underwriters, and adjusters a more complete picture of your property’s value and potentially hidden risks
Call in outside experts as needed – such as Complete DKI
Keep in mind, these tips are not the only things to keep in mind when preparing your business from a storm, but they certainly will help you make sure your business and operations takes a minimal hit when affected by a storm. For more information on dealing with storm aftermath or flooding, be sure to check our other blogs and subscribe for updates.
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