Weathering the Storms: Partnering for Preparedness

As we all know, natural disasters such as the onslaught of hurricanes that hit the Gulf Coast recently can devastate communities, shutting down business operations and throwing entire communities into survival mode.

Preparedness is key when it comes to weathering storms large and small, but many small businesses don’t know where to start when devising an emergency preparedness plan. 

Partnering with a trusted advisor can help your business survive—and even thrive—after a natural disaster. 

Here are a few tips to help you mitigate the risks of doing business when disaster strikes:

On-Site and Employee Protections

Create an on-site emergency plan to help keep your employees safe. A thorough plan and a well stocked emergency kit will help your business handle the immediate effects of a natural disaster. Take the time to train employees ahead of time so that everyone knows what to do and how to communicate when disaster strikes.

Audit Your Insurance Policies

A trusted advisor can mitigate your risks by recommending the right insurance policy for your business. Business interruption insurance will cover your losses—such as loss of revenue—after a covered event. This will help you stay operational even if your clients are unable to pay due to the effects of the disaster.

You’ll also need thorough documentation of all your assets to file a claim. Work with us, in advance of a natural disaster -- like now --  to ensure your documentation fulfills insurance claim requirements.

Safeguard Your Data

Accessing your data is crucial to staying on track financially after a disaster. Develop a backup system that includes storage in the cloud and off-site hard copies of critical documents, stored in fire and water proof containment. Without the right information, it may be hard to file a claim or get operations up and running again.

Plan Your Communications

Establish a clear method of employee communication and delegate responsibilities. Work with a lawyer who can keep relevant information on hand and help you file insurance claims in the aftermath of a disaster.

Develop a Recovery Strategy

Develop a financial recovery plan so you can quickly resume payroll and invoicing. You’ll also need to account for missing income if your customers or clients are affected by the disaster and cannot pay.

A trusted advisor can help your business prepare for the legal, insurance, financial, and operational problems that could be caused by a natural disaster. If you’re ready to be proactive in protecting your business from natural disasters, begin by sitting down with us. As your trusted advisor, we can give you peace of mind and help you implement a legal, insurance, financial, and tax system that will ensure your business can weather any storm.

This article is a service of Law Office of Benjamin Diederich, centrally located in Southwest Riverside County, in the city of Menifee, and serving the surrounding cities of Murrieta, Temecula, Wildomar, Lake Elsinore, Riverside, Corona, and around the country. We offer a complete spectrum of legal services for businesses and can help you make the wisest choices on how to deal with your business throughout life and in the event of your death. We also offer a Business Protector Audit℠ for new or ongoing businesses, which includes a review of your legal, financial, insurance, tax, and intellectual property foundation to ensure your business operates in a sound manner. Call us today to schedule your Business Protector Audit and mention this article to get this $750 session at no charge.

Photo by Anna Goncharova on Unsplash