Small business insurance keep you safe From fires to floods, earthquakes to hurricanes, disaster can strike anytime, anywhere in companies or Shops, and often with little to no advance wearing according to the Insurance Information Institute, as many as 40 percents of businesses forced to suspend operations due to a natural or human-caused disaster never reopen their doors especially in Small businesses.
Try to imagine the challenges and struggles your business would face in the wake of a natural disaster like Hurricane Katrina or Superstorm Sandy. It’s scary to even consider. Now here’s something even scarier: A relatively minor fire or flood that forces you to shut down operations carries many of the same challenges as a disaster on the scale of Katrina or Sandy.
40 percent of businesses forced to suspend operation due to a natural or human-caused disaster never reopen their doors without small business insurance.
business interruption and going belly-up often hinges on one factor—preparation so you should focus on small business insurance.
The best way to prevent a disaster from putting the future of your business at risk is to have a proper continuity plan in place.
Business continuity planning involves:
- Defining potential risks
- Determining how those risks will affect operations
- Implementing safeguards and procedures designed to mitigate those risks
- Testing those procedures to ensure that they work
- Periodically reviewing the process to make sure that it is up to date
Start the process by establishing a planning team tasked with developing the continuity plan. Typical goals of your plan should include:
Protecting the safety of employees, visitors, contractors and others at
- the risk from hazards at the facility with out small business insurance
- Maintaining customer service by minimizing interruptions or disruptions of business operations with small business insurance
- Protecting facilities, physical assets, and electronic information by small business insurance
- Preventing environmental contamination
- Protecting your organization’s brand, image, and reputation
The planning process
The planning process should take an “all hazards” approach. The probability that a specific hazard will impact your business is hard to determine. that’s why it’s important to consider many different threats and hazards and the likelihood they will occur. A business impact analysis can predict the consequences of interruption. That gives you a good idea of how your operations would be affected in case you were forced to temporarily close.
Implementing the plan means more than simply exercising. The plans during an emergency. It means acting on recommendations made during the hazard analysis, integrating the plan into company operations, training employees and evaluating the plan on an ongoing basis.
It is important to conduct a formal audit of the entire plan. at least once a year to help identify any factors that may necessitate changes, such as updated regulations or new hazards.