PREPARE FOR THE END?

Prepare for the End?
Chip Storm

 

I was at a stop light the other day and a guy was standing on the corner with a sign bellowing “Prepare for the end” and it got me thinking about work.  With only a month left in the 2011 Hurricane season, we can take a collective deep breath nothing catastrophic has occurred.  One thing we should not do is become complacent.  Since the storms in 2004 and 2005 I have seen complacent behavior with businesses’ in respect to disaster planning and mitigation.  The best time to prepare and plan for a property loss is before it occurs.

 

Total property losses are rare, in fact, most property losses are partial losses to a structure.  Fire and water damage losses are by far the most prevalent.  Many losses occur due to a neighbor having a property loss and your property becomes impaired due to their loss.  The other factor coming into play is Murphy’s Law.  Most property losses occur in the evening or on the weekend.  Here are a few ways to become prepared:

 

• Develop a business continuity plan and put it in writing. It is important to identify the key elements of keeping your business functioning.  Some key items are alternative work sites/facilities, alternative vendors, key employee contacts and clients.  Also, it is important to develop a timeline of what to do and when immediately after a loss.
• Prescreen property restoration companies.  Establish a relationship with a firm who can respond immediately to a loss.  This way they will be familiar with your company and the property.  Once a loss occurs your recovery team will know who to call no matter what hour the loss occurs.
• Employee contacts.  Develop a call tree so employees can stay informed and safe.
• Update and drill.  It is important to update the plan periodically to maintain the credibility of the information.  Also perform an informal drill so all team members know what to do in the event of a fire, hurricane or other type of loss.  The plan is no good if no one knows what to do.

 

Business continuity and disaster planning are often a neglected part of an organization’s risk management program.  I hope the tips above have given you some ideas for developing your own plan.  If you would like a template, please contact me at cstorm@oswaldcompanies.com