Posted on Apr 28, 2016 by: Scott West
No matter the scale of a given disaster, your organization may find itself out of commission for days or even weeks. Losing income can have severe and sometimes catastrophic consequences.
Serious disasters can cause:
Most firms fail to prepare for worst-case scenarios. Preparation goes beyond a written plan that sits on a bookshelf. The key elements are:
Interruptions can result from many events, including floods, hurricanes, tornadoes, and fires. For restaurants and food processors, foodborne bacteria would be a catastrophic disruption.
In addition to a business continuation plan, an independent insurance agent can offer your business solutions for partial compensation for insurable catastrophic events, such as:
A business that doesn’t conduct periodic disaster response and business recovery drills, including comprehensive system tests and an annual review of insurance coverage, will find itself unprepared for an actual event. Drills don’t necessarily involve the entire staff, and shouldn’t be disruptive to the company if planned properly, but will make any disaster a lot easier to manage.