Business Continuation Insurance
of a catastrophic loss to your business.
Why should you consider this product?
- Having a business continuation plan can greatly increase your ability to resume business operations after a loss
- We have extensive resources and expertise to help you design a plan that works for your business
Business continuation planning involves defining potential risks, determining how they could affect operations, and then implementing safeguards and procedures designed to mitigate those risks. Just as important are testing and periodically reviewing the plan's procedures as your business evolves.
Start the process by establishing a planning team that will set goals for the continuation plan. Goals should include the protection of employees, visitors, and contractors from hazards, along with the prevention of environmental contamination. A business impact analysis can predict the consequences of an interruption to business operations and give you a good idea of how your business would be affected in case you were forced to temporarily close.
To implement the plan, it must be integrated into company operations and employees must be trained on the Business Continuation Plan procedures. Any changes suggested by the planning team must be put into place.
One of the most important parts of a Business Continuation Plan is periodic review. In a year's time, safety regulations may have changed, new equipment may have been purchased, and priorities for your business may have shifted.