Don’t let disaster preparedness be an afterthought following an unpredictable event. It’s an essential practice that business owners can use to help effectively manage risks and minimize losses.
By creating and implementing a comprehensive disaster preparedness plan that includes risk assessments, preventive measures, and effective claims management protocols, businesses can better secure their operations to help reduce property or financial losses.
The Benefits of Planning Ahead
Having a well-thought-out disaster preparedness plan can be crucial in identifying potential hazards and vulnerabilities before they turn into costly emergencies. Business owners may want to consider the following actions to help them further prepare in advance by:
Creating a robust disaster preparedness plan that incorporates risk management to help effectively manage potential insurance claims.
Conducting a thorough risk assessment of their workplace.
Keeping proper documentation of assets, inventory, and vital records in a safe place, and backing up critical data to help streamline any claims processes and minimize downtime.
Practicing pre-determined evacuation routes, drills, and scenarios, and adhering to safety protocols to help employees understand how to stay safe.
Ensuring the right safety equipment, such as first aid kits, fire extinguishers, sprinkler systems, and smoke alarms, are in good working order.
Risk Management for the Future
By implementing a comprehensive disaster preparedness plan, you can help safeguard your business and assets, educate your employees, and be ready for potential business interruptions in the face of unforeseen events.
Reach out to your local Federated® marketing representative to learn more about this and other risk management topics.
Federated Insurance is an ACCA Platinum Partner. For more information about our Corporate Partner program, visit here or email ACCA’s Strategic Partnerships Manager Kenzi Vizzari at kenzi.vizzari@acca.org.
This article is for general information and risk prevention only and should not be considered legal or other expert advice. The recommendations herein may help reduce, but are not guaranteed to eliminate any or all risk of loss. This is not provided as a substitute for any OSHA or other regulatory standards that may apply. The information herein may be subject to, and is not a substitute for any laws of regulations that may apply. This information is accurate as of its publication date and is subject to change. Some of the services referenced herein may be provided by third parties wholly independent of Federated. Federated provides access to these services with the understanding that neither Federated not its employees provide legal or expert advice. All products and services not available in all states. Qualified counsel should be sought with questions specific to your circumstances and applicable laws.
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