Natural Disaster Business Protection

Sep 5, 2019, 4:15 PM

Hurricane Dorian may be the top story in the news right now, as it moves along the east coast of the U.S. It’s damaged homes and city streets in the Bahamas already. You can help survivors here.

While Hastings Mutual’s six-state region isn’t a target for hurricanes, other natural disasters are a threat. Tornadoes, fires… dangerous conditions exist in every season. You can prepare your home and family by creating an emergency plan — it includes an evacuation route if there’s a fire, a first aid kit, a supply of water, food, and medication, and more.

Business Emergency Planning

If you're a business owner, you’ll need another emergency plan too, this one for your office or worksite. Here’s what you can do to be ready before disaster strikes your business.

The U.S. Department of Homeland Security recommends starting with a business impact analysis, a study of the effects of a disaster on your company. If your company is shut down for a few days, how much will that cost you? What’s the price of a “business interruption?”

This can mean anything from profits you didn’t earn for the day to long-term effects like customers leaving your business permanently because your door was closed. There is insurance available: Hastings Mutual’s businessowners policy provides coverage for “business interruption.”

After determining how your business could be affected, develop a plan to prevent those losses.

• Have emergency medical supplies available. Here’s a kit you can create for your company. 
• Make sure you have staff with first aid training. They can assist people who are hurt on the site of an emergency until medical professionals arrive.
• If you rely on a particular vendor for merchandise, find a second vendor who can offer the same things as a backup.
• Have emergency contact information in an easy-to-find place — and if you have Hastings Mutual Workers’ Compensation coverage, you also have access to skilled medical professionals via the FirstCall Work Injury Hotline. 

You can’t always be prepared for a disaster, even if you know it’s coming. Developing a business impact analysis, gathering supplies, and having Hastings Mutual business insurance will help you be ready before tragedy strikes.

Click here to learn more about commercial policies here at Hastings Mutual.

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