A hurricane can grind a business’s operations to a halt, possibly for a long period of time. But if weather forecasts warn that a hurricane is approaching, there are steps you can take to prepare and recover.
You’ll have to plan for both windstorm damage as well as possible flooding as claims for the latter continue to grow as storm surges grow increasingly higher due to climate change and rising sea levels.
Fortunately, you can take the following steps to minimize losses, soften the financial impact, and enable operations to resume quickly.
Make sure employees are safe — If a hurricane is imminent, workers belong with their families, either at home or evacuated to a safe location. Showing genuine concern for employee safety is the right thing to do, promotes good workplace morale, and helps ensure that your workforce will be available when you resume operations.
Collect employees’ cell phone numbers and personal e-mail addresses so you can keep each other informed.
Know your insurance coverage — The business may need to make claims against its property and auto insurance after a hurricane. It is important to review policies to make sure the business has bought enough coverage to replace buildings, furniture and equipment. Increases should be requested, if necessary.
Be aware that flood insurance policies typically have a 30-day waiting period before they provide coverage, so this coverage will not help if it is purchased the day before a hurricane arrives. Keep contact information for insurance agents and companies handy in case you have to submit claims.
Protect property and vehicles — To the extent feasible, cover windows and move vulnerable property and vehicles to safe locations. Back up electronic data and ensure that the copies are stored offsite in servers far from the hurricane zone.
Unplug electronic equipment if possible to avoid damaging power surges. Test emergency backup power generators to protect temperature-sensitive stock such as food and medicine. Keep emergency first responder phone numbers handy.
Monitor the storm’s progress — The media will cover the storm non-stop, so stay informed. Do not attempt to travel to the business location until local authorities announce that it is safe to do so.
Protect property from further damage after the storm — If safe to do so, cover broken windows and damaged roofs; pump out standing water; use fans to start drying out water-damaged flooring; remove perishable stock to alternate locations; and protect or move electronic equipment.
Many business property insurance policies will pay to offset some of the cost of protective measures.
Communicate with employees — It is important that they know about when work will resume.
Contact insurance providers immediately to report damage — Cooperate with them fully during the claim process.
Document losses — Take photos or videos of the damage. If available, use drones to record videos of roof damage. Create written descriptions of damaged property. Gather receipts and other documents to establish the age and replacement cost of property.
Collect information to support business-income insurance claims, including past and projected sales records, payroll records, invoices for necessary continuing services such as fuel supplies, and business expense records. Obtain repair estimates on damaged vehicles.
The takeaway
Hurricanes are devastating events for businesses. Around 75% of organizations that lack a continuity plan will fail within three years of a natural disaster.
But it does not have to be that way. With advance planning and thoughtful action afterward, a business can survive a hurricane.
BGES Group is one of New York, New Jersey, and Connecticut’s Construction Insurance Specialists representing 50+ companies, including all the BEST general & umbrella liability programs. We offer all the coverage needed, including property, builders’ risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability, and group health. Our commitment to you goes beyond the policies we provide. We are always just a call, text, or email away, ready to assist you, even on weekends. We understand the importance of your business and are here to help you navigate any insurance challenges.
BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being canceled, losses causing difficulty getting coverage, in the middle of an audit dispute, misclassified payrolls, or whatever your issue. We can help! We have special programs for Auto Services, Contractors (especially in New York), Limousine Services, Logistics Companies, Manufacturers, Recyclers, and Truckers; we can help ANY tri-state business owner. We are considered “Preferred Agents” for this one program that, if we can get you into, their pricing is excellent, offers long-term coverage stability, and can cover multi-state operations. The program takes the hassle out of doing annual audits, too.
If you want to speak with us, call Gary Wallach at 914-806-5853, click here to email, or visit our website.
Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538
email: bgesgroup@gmail.com
website: http://www.bgesgroup.com
© – Copyright – 2024 – BGES Group