R&R Insurance Blog

There will always be circumstances beyond your control that can affect your business. Preparing for the worst can minimize the risk. 

A disaster is an event that would cause the inability to continue your normal business operations. Fortunately, these situations are rare, but overall billions of dollars have been on the repercussions of natural disasters. Not to mention all the revenue businesses have forgone while recovering from the disaster and getting their operations back up and running.

Some of the most recognizable disasters are:

• Fire                                                    
• Tornado                                           
• Hurricane                                         
• Flooding                                          
• Severe Storms
• Wild Fires
• Power Failure
• Riot / Civil Disorder

Indirect disasters can also be devastating. These trigger a domino effect that can be felt through all members of your operations and supply chain.

• How would your business operations be affected if your biggest customer’s purchases were cancelled due to a disaster?
• How would your customers be affected if your biggest supplier was down and you were unable to get your supplies and merchandise to fulfill purchase orders?

However, there are steps that can be taken to prepare your business for the worst, should disaster strike:

• Review your insurance:
  • Know the value of your building, contents, and equipment.
  • Review your business interruption expenses. Can you meet payroll, pay vendors, pay rent/mortgage, purchase equipment and supplies?
  • Estimate the length of time it would take to rebuild or relocate to get the business functioning again.
• Back-up your data.
• Mark your main water shut off valves and fire extinguishers for quick access.
• Discuss disaster planning with your management team. Be sure they know what steps each of them would be responsible for in the event of a disaster.

Up to 40% of businesses never recover after experiencing a disaster. However, only approximately 30% of businesses have a disaster plan. Don’t be caught unprepared. Start planning today.

Contact a Knowledge Broker to discuss how you can better protect your business in a time of crisis.

Additional disaster resource Information can be found at:

• https://www.redcross.org/preparednessfastfacts
• https://www.ready.gov/

With increasing news of violence in the workplace, would you recognize the signs of a co-worker ready to snap? The most recent incident where two news reporters were killed on-air has raised questions regarding liability of workplace safety.

The Center for Disease Control considers workplace violence a national epidemic. Violence is described as not only killings by employees, ex-employees, family members, customers, but violence can also include “bullying” in the workforce. Violence can be physical assault, threatening behavior or verbal assault.

There are many reasons a worker can lose control:

• Stress
• Excessive Workloads
• Harassment & Intimidation
• Verbal Abuse
• Threat of Firing
• Stress at Home

Be aware: 85% of workplace violence perpetrators exhibit clear warning signs before it is acted upon.

• An Employee requiring significant amount of supervisor time
• Decreasing productivity
• Inconsistent work patters
• Poor on the job relationships
• Poor Health and Hygiene
• Unusual Behavior

If you notice unusual behavior, try talking to this person. A little “caring” conversation can make a difference. If behavior does not change, you should go to your HR Department and voice your concerns. They will take these concerns seriously. They may be able to offer this person help in an area you would not even think about. They are the experts in this field.