Dalessandro Agency Blog

According to the U.S. Small Business Administration an estimated 25 percent of businesses that close following a catastrophe are forced to close their doors permanently. Preparation for a catastrophe therefore should be a major priority for business owners, particularly owners of small businesses who usually have less financial resources to fall back on and therefore help them rebound. As well as ensuring their MI insurance is adequate — including taking out business interruption insurance to give coverage should their business be forced to close for a temporary period of time — business owners should also consider having a disaster preparation plan on hand.

A disaster contingency should plan for the worst, and firstly give guidance for employees in the immediate event of a disaster with advice on where to go, and on how to administer first aid if necessary. Secondly, the plan should be about keeping communications open with suppliers, clients and employees, informing them of temporary changes of location if necessary and when normal service will be resumed.

Perhaps the key factor in business recovery is the work done to ensure that the businesses MI insurance package is adequate to give financial assistance during the business recovery process. For more information on this, talk to one of our agents.

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