TDA Insurance Blog
How to deal with a disaster response with the help of our Michigan Business Insurance Agency!
12/30/2011 10:52:11 AM
In Michigan, business insurance products can offer the coverage that local businesses need for financial protection for a range of disasters. However, according to research from the Insurance Information Institute, a number of surveys showed that well over half of businesses were unconcerned about a disaster affecting their enterprise, and only about one-third had a clearly defined emergency response plan in place.
These issues are compounded by the fact that – according to the Insurance Institute of Business and Home Safety - one-quarter of small to mid-size businesses that close during a disaster fail to reopen. Lack of planning may be a major reason for this. While no one likes to think about natural disaster or burglary, the fact is that these things happen and having a plan of action in place may help a business to recover and reopen more quickly after such an incident.
Businesses should create and write down an emergency plan, conduct regular practice runs and training sessions, have emergency equipment in place such as first aid supplies, and consider a backup power source such as a generator. The plan should cover what actions are to be taken for different occurrences – for instance, the response plan for burglary would not be the same as for a fire. However, emergency plans should be clear and easy to follow.
Good preparation can make a big difference. It may also help save money on repairs and your Michigan business insurance!
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These issues are compounded by the fact that – according to the Insurance Institute of Business and Home Safety - one-quarter of small to mid-size businesses that close during a disaster fail to reopen. Lack of planning may be a major reason for this. While no one likes to think about natural disaster or burglary, the fact is that these things happen and having a plan of action in place may help a business to recover and reopen more quickly after such an incident.
Businesses should create and write down an emergency plan, conduct regular practice runs and training sessions, have emergency equipment in place such as first aid supplies, and consider a backup power source such as a generator. The plan should cover what actions are to be taken for different occurrences – for instance, the response plan for burglary would not be the same as for a fire. However, emergency plans should be clear and easy to follow.
Good preparation can make a big difference. It may also help save money on repairs and your Michigan business insurance!
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