Insurance Lessons Learned From Sandy: Steps to Keep Your Business Running Following a Disaster
Maintain Your Revenue Stream with Effective Disaster Recovery and Business Continuity Planning
NEW YORK, October 3, 2013 — The difficulty many businesses had reopening after Hurricane Sandy is a reminder of the importance of having a disaster recovery plan and the right type and amount of insurance, according to the Insurance Information Institute (I.I.I.). In fact, the I.I.I. noted that an estimated 25 percent of businesses never reopen at all following a major disaster.
“Business owners are busy building their businesses, but they need to invest the time and money to develop a disaster recovery and contingency plan,” said Loretta Worters, vice president with the I.I.I. “Having the proper insurance to help keep their business going when disaster strikes is also crucial. Every day a business is not up and running it is losing revenue.”
1. Develop a Business Contingency Plan
