Protecting Your Business from the Unexpected

You don’t usually hear about the local businesses that go under because of hurricanes and earthquakes, but it’s not uncommon for small companies to fail after such catastrophes. Don’t let this happen to you!

DRAFT

While yes .. it is imortant to carry carrying business interruption insurance … you;ve got to keep your “doors” open and generating revenue.

, an extremely important component of an effective risk management plan is being prepared to respond quickly to an emergency or a disaster. Being prepared doesn’t mean having a few gallons of water tucked away in the back of the office, nor does response mean returning to your office to inspect the damage after a disaster. It means having a plan in place that ensures you can continue to conduct business immediately after a disaster or emergency strikes. Take steps to develop plans for recovery in the event of a business disruption or a complete interruption.

In addition to carrying business interruption insurance, an extremely important component of an effective risk management plan is being prepared to respond quickly to an emergency or a disaster. Being prepared doesn’t mean having a few gallons of water tucked away in the back of the office, nor does response mean returning to your office to inspect the damage after a disaster.

It means having a plan in place that ensures you can continue to conduct business immediately after a disaster or emergency strikes. Take steps to develop plans for recovery in the event of a business disruption or a complete interruption.

First, carefully assess your critical business functions. Consider which parts of your business can sustain a prolonged interruption. If you can afford to put all functions on hold and potentially lose customers, you may be able to survive a mild emergency. But many businesses can’t — a mild or severe disruption in normal business may have disastrous effects on the future of the company.

Evaluating your Business Continuity Plan

Do you have a written Business Continuity Plan?

No eye-rolling aloud! But seriously, the last you need to be doing is figuring out what do when your business has a significant technology failure.

Do you have a crisis management team?

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What provisions have been made for resuming business operations?

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Have you identified and prioritized critical applications?

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Does each job function in your company have a primary and secondary person assigned to perform its critical duties?

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