3 WAYS BUSINESSES CAN SAFEGUARD AGAINST EXTREME WEATHER
‘ When an unavoidable loss does occur ( be it directly or through disruption of one of your key suppliers ) every minute is precious , and businesses need to be able to get back on their feet as quickly as possible ’
Business Continuity Plan A business continuity plan should be both broad and deep , covering a wide range of contingencies : disaster recovery , the safety of employees , the retrieval of back up business data , emergency communications , the possible relocation of business operations to an alternative location , and the sourcing of goods from alternative suppliers . By working with business continuity experts , companies can better understand the risks they face and better prepare themselves to prevent , control and mitigate them .
Insurance Programme When it comes to your insurance programme , it pays to know how your policy will respond , should you ever face an insurable loss . Do you know whether your insurer has the financial strength to pay for your loss ? Does your insurer have the stability , so you can be confident it will be around should you have a claim ? Additionally , does it have a history of paying claims , promptly and fairly ? Speed of response is also critical as sales will be lost if a business is unable to function .
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