Are you prepared if disaster strikes your business?

If you're counting on your insurance to make it all better, remember this ... insurance can't cover everything, and all coverages have limits and limitations. And even more importantly, insurance can't fix everything overnight as if nothing happened.

So, in the event of business disaster, you need a plan - a disaster recovery plan - that allows you to get the company back up and running as quickly as possible. Of course that plan includes solid insurance protection. But there's so much more to your business. If you don't feel you have the expertise to design this plan, there are plenty of professionals out there who can help you.

For your recovery plan to be effective, make sure you do the
following:

* Make duplicate records of both computerized and written documents.

* Identify your company's critical business activities and the resources needed to support them.

* Plan for the worst-case scenario. Do research before a disaster strikes on alternative facilities, equipment and supplies, as well as alternative contractors.

* Set up an emergency response plan and train your employees how to carry it out. Consider alternative power sources and communication systems and supplies; such as first-aid kits and flashlights.

* Compile lists of important phone numbers and addresses, including those of local and state emergency management agencies, major clients, contractors, suppliers, realtors, financial institutions, your insurance agent and claim representatives for your insurance companies, as well as phone numbers and addresses for your staff. Keep these lists off-premises.

* Implement a communications strategy to prevent the loss of clients. The strategy should enable your clients to contact your company at its new, temporary location.

If something bad does happen ... and I sure hope it doesn't ... but if it does you know we'll be there for you. But it's going to take more than speedy claims settlements to keep your business in business. Make sure you're prepared with a disaster recovery plan.

Happy New Year!

Elizabeth Wightman

Wightman Insurance

www.WightmanInsurance.com

Return to Library of Business Information