In times of crisis, people need reassurance that their money is safe and easily accessible. As a financial institution, countless people and businesses rely on you every day for your services. Maintaining your daily operations is vital to your organization, which means that unexpected disaster can present a huge threat. To prepare for the unexpected, you should review your disaster readiness plans to help you minimize the impact of any potentially threatening situation.
Of all businesses that close down following a disaster, more than 25 percent never open their doors again. While there’s no way to lower the risk of a natural disaster from hurricanes, there are critical measures that can be taken to protect your company’s bottom line from nature’s fury. A disaster plan and adequate insurance are keys to recovery.
There are many factors contributing to the hardening insurance market today. Check out the infographic below for stats the Insurance Journal reported in the U.S. in the first quarter of 2020.
during a hard market, insurance buyers should plan to face difficult decisions regarding their insurance coverage. Thankfully, businesses are not without recourse in the face of a hard market. Business owners who proactively address risk, control losses and manage exposures will be better prepared for a hardening insurance market than those who do not.
This checklist is for business owners to help them start their recovery efforts in the aftermath of a disaster. In the aftermath of a man-made or natural disaster, you and your company will have a number of concerns to account for as you prepare to reopen for business. Follow this checklist to ensure that you take the proper steps to recover after a disaster strikes.
It is impossible to completely flood-proof your property, but flood preparation can lower your business’ risk of damage and reduce business interruptions. Stay afloat with solid preparation and a thorough flood plan.
When meeting with a current or prospective vendor to discuss business continuity planning, are you asking the right questions? This infographic can help you determine whether or not a vendor is prepared to handle a business interruption.
As more and more large companies get serious about data security, small businesses are becoming increasingly attractive targets for cyber criminals, and the results are often devastating for small business owners. Even if you don't currently have the resources to bring in an outside expert to test your computer systems and make security recommendations, there are simple, economical steps you can take to reduce your risk of falling victim to a costly cyber attack.
If you have employees who use personal vehicles for business use, you could be exposing your business to a significant liability risk. Examine the advantages and risks of employees using their personal vehicles for business use in this infographic.