Taken together, Hurricanes Katrina and Rita are by far the most costly natural catastrophe in U.S. history, with estimated losses now exceeding $60 billion. The previous record for insured losses is held by Hurricane Andrew, for which insured losses totaled $21 billion (in inflation adjusted dollars).
Business continuity planning should account for all hazards that may affect your business (i.e., hurricanes, flood, active shooter, etc.) You should plan in advance to manage any emergency situation. Assess the situation, use common sense and available resources to take care of yourself, your co-workers and your business's recovery.
Ten Steps You Can Take To Protect Your Business
- Assess your risk.
- Identify critical business functions.
- Evaluate supply chain preparedness.
- Appoint a crisis manager.
- Back up your data.
- Create a communication plan.
- Assemble an emergency kit.
- Review insurance coverage.
- Test your plan.
- Challenge your assumptions.
For more great tips and tools on protecting your business, go to: