Severe weather can happen at any time. Is your business prepared to manage the aftermath effectively? By preparing a risk management plan in advance, along with keeping your team aware of emergency preparedness practices, you can be ready to act if you’re left with damages.
Why a Risk Management Plan Matters for Your Business
- From top leadership to the newest hires, a risk management plan can keep everyone aware of next steps and how to communicate effectively to help minimize downtime.
- Your plan may include training your team on how to respond if severe weather impacts your daily business operations.
Emergency Preparedness
- Planning for severe weather can help to save lives. Running training drills and coordinating communication plans for key people and employees can help everyone feel more prepared.
- Safety practices to consider can include ensuring that sprinkler systems work, emergency alarms are functioning, and first aid kits are available.
Follow Through with Next Steps
- Designate a trusted “key person” to handle communication, triage, and execution of your risk management plan. This person can alert employees on how to proceed if your building or assets are damaged.
- Maintain an accurate inventory of assets and digital backups of data. Make sure that you have the right amount of insurance coverage to help you get back in business more quickly if damages occur.
Looking to learn more about common severe weather events in your area? Check out disastersafety.org, a product of Insurance Institute for Business & Home Safety (IBHS). To get started on your risk management plan, talk with a Federated® marketing representative to help ensure that you are prepared if severe weather strikes your business.
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. The information herein may be subject to, and is not a substitute for any laws or 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 nor its employees provide legal or other 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.
Article By: Equipment Dealer Specialist Jerry Leemkuil, Federated Mutual Insurance Company
