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Preparing Your Business for Losses
Try as you might to run an efficient business free of workplace hazards, weather-related losses are unavoidable. However, while you may not be able to avoid weather catastrophes entirely, incorporating Business Loss Preparedness measures can help minimize further damages to your business.
Business Loss Preparedness Steps
- Ensuring your bookkeeping remains current is crucial for several reasons. Firstly, accurate records provide a clear financial snapshot of your business, facilitating informed decision-making and financial planning. The accuracy of your bookkeeping will help with your claims process when speaking to your insurance provider.
- Protect your business documents by keeping duplicate copies of them at an off-site location or even digitally. This way if your original documentation is damaged, you’ll always have back-ups.
- Develop multiple action plans for your staff detailing procedures to follow in the event of a loss. Establishing clear protocols ensures your business is well-prepared for unforeseen circumstances. This ensures that employees understand how to effectively communicate the loss to your customers.
- Protect your business with Business Interruption Service. When a fire, flood, windstorm or other disaster strikes and temporarily shut down your business or requires you to move to a different location, Unica’s SPARK or Connection coverage may cover you for loss of income to keep your business running.
Action Steps
Following a few simple steps to stay ahead of the storm will keep your business operating smoothly and prevent incurring more losses than necessary. Additionally, you can consult your broker to learn more about Unica’s comprehensive protection for your Business.
