Gulfshore Insurance > Gulfshore Blog > Business Continuity > Hurricane Preparedness: Are You Ready?

Though the Atlantic hurricane season starts each year on June 1st, emergency planning should generally be a year-round priority; especially if you own a business in Florida. Seven of the ten costliest hurricanes in U.S. history have impacted Florida, six of them occurring within just two years (2004 and 2005). Florida has been fortunate in recent years, but hurricane season is no time to become complacent about being prepared for a storm.

Statistics from the U.S. Small Business Administration show that many businesses are not prepared to respond to a natural disaster. One in four businesses that close because of a disaster coming, never reopen. Small businesses are particularly at risk because typically they have one location – the one that is damaged or destroyed. So, what should business owners located in hurricane-prone areas do to make sure they are ready for a potential storm? The Insurance Information Institute recommends that we be proactive by implementing the following steps:

Developing a Business Continuity Plan: When developing a Business Continuity Plan, share the plan with employees, assign responsibilities, and offer training so your workforce can collaborate in the recovery of the business. Conduct regular drills to assess and improve response.

Maintain Key Information Offsite: To get your business up and operating after a disaster, you’ll need to be able to access critical business information. In addition to backing up computer data, keep an offsite list of your insurance policies, banking information and phone numbers of employees, key customers, vendors and suppliers, your insurance professional and others. If you have a back-up site make sure it’s sufficiently far away so as not to be affected by the same risks that threaten the primary location.

Take a Business Inventory: Creating a business inventory includes listing all business equipment, supplies and merchandise—and don’t forget to include commercial vehicles.

Review Your Insurance Coverage: The time to review your insurance policy is before disaster strikes and you have to file a claim. It is important that your business have both the right amount and type of insurance for its needs and risk profile. Our insurance professionals at Gulfshore Insurance can assist you by providing you with a complete “checkup” of your insurance exposures and guidance on risk and insurance matters. We help build the right insurance and risk management programs to fully protect your assets.