Connecticut Business Insurance: Commercial Continuation Plans

Hurricane Sandy was devastating. As part of the recovery effort, it is imperative that business owners take the time to improve their businesses now to better protect their safety and mitigate risk in the future. The Insurance Institute for Business & Home Safety recently had several recommendations for how to protect against future extreme storms.

One in four businesses that are forced to close for at least 24 hours by a disaster never reopen. During Hurricane Sandy, power outages were widespread and many businesses shut down for days or weeks. Every business should create a long term business continuation plan that plans for the possibility that your facility may be damaged, experience a long power outage, or is stuck in a location that is not accessible due to roads or infrastructure problems. Having a plan and procedures in place with a backup location or telecommuting methods helps you get your business back up and running with minimal damage.

Communicate with your employees before, during, and after the storm. Employees should know about your business continuity plan and be trained in their areas of responsibility. Take moments periodically throughout the year to remind them about the plan. Have multiple communication channels in place including phone trees, email, and social media to keep in touch during the storm.

Finally, don’t just base your protection on the past events. The majority of Sandy’s damage was water-related. However the next storm could bring high winds that could inflict exorbitant damage in a different way. Even if it is a similar type of storm, every major storm has unique meteorological, timing, and geographic attributes that influence how it affects businesses and homes. Basing your protection on past events, (like only getting flood insurance after Hurricane Sandy), can possibly limit your protection in the long run.

Sinclair Risk & Financial Management is not your typical independent insurance agency. We tailor commercial insurance products to protect your business against unforeseen losses – and we’re excellent at doing so. But we go way beyond just the policy.

Our goal is to help mitigate losses in the first place to protect the value you’ve created in your business – whether you’re a large construction company, multinational food processor, a local enterprise or a Connecticut manufacturing plant. As your advisor, we’ll make a tangible difference to your business by providing you with a better understanding of the exposures and liabilities that exist in your daily operations and implementing programs to safeguard against them, minimize losses, reduce claims, and ultimately provide significant opportunities for savings. Contact us today for more information – (877) 602-2305