Faced With a Disaster…Would Your Business Be Prepared?

By January 26, 2018 Personal Insurance

To help your business be better prepared for catastrophes, use Open for Business®, the risk control and planning tool, created by the safety experts at the Insurance Institute for Business and Home Safety (IBHS).

Small businesses are particularly vulnerable in disasters. Statistics show that, of the small businesses that close because of a disaster, at least one in four never reopens, according to IBHS. The statistics may be higher since most surveys cover the first two years after a disaster, but the businesses that do hang on may only last two to five years before they give up.

With the Open for Business tool, small to mid-size businesses can follow the same disaster planning and recovery process used by larger companies, but without the burden of big budget costs.

IBHS offers several options, including:

•    Open for Business Basic – A toolkit that you can download to help you capture essential information about your business. The toolkit is also available in Spanish.

•    OFB–EZ – A new streamlined version of Open for Business.

Open for Business® will help you plan how to reduce potential losses and downtime should a disaster strike. The event can be a natural disaster, an intentional or unintentional human-caused incident, a technological failure, pandemic flu or high absenteeism, or something as simple as a burst water pipe or as disruptive as a power outage.

To learn more, visit http://www.disastersafety.org/open-for-business/ofb-basic/

If you have questions, please contact the safety experts at IBHS.  Better yet, give us a call at CNR First Insurance – 410-897-9890.

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