DISASTER PLANNING: RIDE OUT THE STORM

4The American Management Association recently reported that only half of the corporations it surveyed had a disaster plan. What's more, many respondents felt that the time spent preparing a plan was too costly or that they had just never thought about it.

As insurance professionals, we find such news disappointing. After all, a disaster management plan should be a top priority for every company.

The safety of your employees and the future of your business depend on your drafting a disaster management plan -- now. From the loss of key personnel to physical property damage, everything that can go wrong in a serious situation might very well do so. Are you prepared?

Your plan should also include comprehensive insurance coverage. For example, if you don't carry a Business Income policy with "Extra Expense" coverage, you're going to lose money after a disaster until you can get your operations restored; maybe enough to put your business under for good. This coverage kicks in to help you replace lost revenue and expenses to get up and running fast.

For more information on adding Business Income insurance with Extra Expense coverage to your protection package, call our service team today.

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Further Reading
The American Management Association recently reported that only half of the corporations it surveyed had a disaster plan. What’s more, many respondents felt that the time spent preparing a plan was too costly or that they had just never thought about...
First, decide whether an outside professional group will plan the event or an internal group within the company.  The external group has advantages regarding reducing liability, but budget is a factor.   Regardless of the above choice, ...
Think about disaster planning as a nomadic tribe might. How do you pack only the essentials and relocate with little or no notice? How do you reestablish your business with next day efficiency? The modern business world consists of three essenti...
Of the U.S. companies that are victim to a man-made or natural disaster, the Contingency Planning Research Strategic Corporation says 43% never reopen their doors and 29% are out of business within the following two years. A study by Touche Ross foun...
If you held your last fire or emergency evacuation drill more than six months ago, it's time to think about staging another. Careful planning and evaluation can help you get the most out of these exercises, enhancing your employee's chances of a sa...