41351867_M (2)How equipped is your business to deal with a disaster? Do you have a plan in place to resume your business operations? Disasters come in all shapes and forms, including natural disasters such as floods, earthquakes and tornadoes or those caused by humans, such as train derailments or acts of terrorism. Your business could suffer property damage, pollution damage, loss of data and loss of income, but if you have a plan in place, your business is more likely to survive.

Large companies have risk managers or consultants who handle disaster preparation and recovery, but if you are a small business owner, you may have to handle this task yourself. A disaster recovery plan outlines important procedures to protect your business after a disruption. When designing a disaster recovery plan, consider these important factors:

  • You should have an emergency notification system in place to notify employees of the disaster and if, when and where they should report to work.
  • If your business will be closed, you must notify employees, customers and suppliers how long you will be closed.
  • Notify all parties if you will be resuming operations at a temporary location.
  • Have backup suppliers in place if your primary suppliers are also affected by the disaster.
  • Have contact information for your insurance carrier and policy information on hand so you can report any claims promptly.
  • Compile a list of your most important contact names and telephone numbers (FEMA, local emergency agencies, financial institutions, contractors, suppliers, law enforcement, and more.)
  • Have a back-up power supply and communications system.

Before a disaster strikes, make sure you are aware what your business insurance covers. You may want to consider Business Interruption Insurance, which could help your business get through a disaster until you can resume normal operations. Have questions? We can answer them! https://accurateprotection.com/

14988411_M (2) A loss from an unexpected event or a natural disaster can leave your business at a standstill. How do you protect your livelihood? After a disaster, you have so many things to consider—business expenses, employee salaries, vendor obligations and other operating expenses. If you are not prepared in advance, you may have to close your doors, at least temporarily. Business interruption insurance can give you peace of mind that your business can continue normal operations after an unexpected loss.

There are a couple ways to get business interruption insurance. You may be able to add the coverage by endorsement to an existing business owner’s policy (BOP) or you can buy a stand-alone policy. Here are a few things this policy will cover for you:

  • Business operating expenses (employee salaries, loan payments, rent, etc.)
  • Relocation expenses to temporarily move if your building or office, fixtures and furniture need repairs
  • Lost business income while your business is closed

There are a few things that a business interruption policy does not cover. These exclusions from coverage may include any losses resulting from flooding, utility outages, earthquakes/hurricanes, glass breakage, fire, theft, or vandalism. In some cases, however, coverage for excluded items can be added to the policy by an endorsement.

If you have extensive damage to your business and won’t be open for some time, you can check into an extended coverage endorsement, which adds additional time to the business interruption coverage if you are going to be closed for longer than 12 months.

Wondering whether business interruption insurance is a good idea for you? Give us a call to review your business coverage. We are here to help! https://accurateprotection.com/

43434039 - security lock with mobile device, close up.We’ve all heard the staggering losses suffered by major companies attacked by cyber criminals. But did you know that small businesses also are in the crosshairs? In fact, nearly 55 percent of small businesses report having experienced a data breach of some form. A cyber criminal attack can hurt your reputation, your employees, your customers and your bottom line.

Cyber criminals often use malicious software to infiltrate a company’s data files, and then steal sensitive client data such as Social Security or credit card numbers. In some cases, the criminals ransom the data, demanding a payment to return the data or unlock your files. If you collect and store client data of any kind, you are vulnerable.

General liability policies generally exclude cyber liability and even an E&O (errors and omissions) policy will not provide protection for cyber liability. What can you do? To protect your business’ liability interests, it may be necessary for you to purchase a cyber insurance policy.

Cyber insurance can help your company recover losses such as these after a cyber attack:

  • Lost revenue
  • Data loss or destruction
  • Business interruption
  • Equipment damage
  • Legal fees
  • Forensic analysis
  • Public relations
  • Legally mandated notifications to clients

A cyber insurance policy helps cover the cost of notifying your customers of the data breach and helping to restore personal identities of those customers. It also can help with recovering data that has been compromised and repairing the damage to your computer systems. Some cyber insurance policies offer credit monitoring services to your clients after a data breach has occurred.

Interested in protecting your business against the damage of a cyber attack? Let us know. https://accurateprotection.com/

Is your business prepared for the unexpected? There are plenty of unforeseen risks for every business, but good planning can help put you on the right path before they even happen. Here are some great ways to help make sure an unexpected event doesn’t hurt your business:

Review your continuity plan at least once per year.

Make sure your plan is up-to-date and that your business is ready for a wide range of threats. Unexpected setbacks — whether it be a power outage, a flood or a fire — can hurt or even destroy a business. Having a plan in place is an important step in overcoming these setbacks.

Educate your employees.

Do all your employees know what they should do in an emergency? Make sure your employees know how to handle a variety of unexpected events, and take time to review with them often.

Check your insurance coverage.

Today, businesses have access to a wide variety of insurance coverages designed to help them cope with unexpected events. Take the time to make sure you have the correct coverages in place for your business needs and risks.

Unforeseen events don’t have to devastate your business. The key is in good, consistent planning so that your business is prepared for whatever life throws its way.