Being an entrepreneur requires resilience. When failure happens or mistakes are made, the key to success is correcting course to move forward.
You can’t always prevent disasters from happening, but you can be ready in the event one hits.
Expect the unexpected, pinpoint your location’s risks, and formulate a plan to keep up operations in the face of an emergency. Ultimately, you don’t want to be a part of this statistic: According to the Insurance Institute for Business and Home Safety (IBHS), approximately 25% of business don’t reopen after a major disaster hits.
GETTING “READY”: DISASTER SAFETY TIPS
A national public service campaign, Ready was launched to encourage the American public to prepare for, respond to, and mitigate emergencies. Ready’s in-depth site details exactly what to do before, during, and after specific natural disasters strike. Determine which types of disasters could potentially threaten your business and look to these free resources as guides.
Potential threats: Powerful winds, heavy rainfall, storm surges, coastal and inland flooding, rip currents, tornadoes, and landslides.
- Winter Weather
Potential risks and threats: Car accidents, hypothermia, frostbite, carbon monoxide poisoning, and heart attacks from overexertion, plus extreme cold, freezing rain, snow, ice, and high winds.
Potential threats: Fires, road damage, tsunamis, landslides, and avalanches, plus injuries and property damage caused by collapsing buildings and heavy falling items.
Potential risks and threats: Building damage, overturned cars, deadly flying debris, and intense winds over 200 MPH.
Potential risks and threats: Building damage, injury or death to people and animals, flooding, and transportation, gas, power, and communications disruptions.
Potential risks and threats: Injury or death, power outages, transportation interference, building damage, and landslides. (Floods are the most common natural disaster in the U.S.)
PROTECTING YOUR BUSINESS WITH INSURANCE
The number one action you need to take to protect your business? Obtaining business insurance.
You’ve built a great business, investing your money, time, and hard work to make it grow. Now, protect that investment with business insurance that’s tailored to your specific needs. Insurance minimizes your financial risk when the unexpected happens — a fire, a lawsuit, an injured employee, or the death of a key partner or executive. Comprehensive lines of property and casualty insurance help safeguard your business against the risk of loss, theft, or damage, and can protect you against business interruption, loss of income, or loss of the use of your property.
Types of Business Insurance
- Property Insurance
- Equipment/Inland Marine
- Electronic Data Equipment
- Directors & Officers
- Business Interruption
- Crime Insurance
- Workers’ Compensation
- Occupational Accident
- Employment Practices
- Umbrella/Excess Liability
- Professional Liability
- Product Liability
- General Liability
- Garage/Keepers Liability
- Liquor Liability
- Assault & Battery
- Cyber Liability
- Cargo Insurance
- Business Auto
CLEANING UP AFTER A DISASTER
Polluted water supplies. Toxic molds. Downed power lines. Threats to your health and safety don’t end when the storm subsides, so make sure you’re extremely careful during the cleanup process. Contact the National Response Center or the National Pesticide Center to report any hazardous material spills or discharges you find. The Occupational Safety and Health Administration(OSHA) is another useful reference, with their list of health and safety tips to practice when cleaning up after natural disasters.
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