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1 |
Identify potential
hazards and determine appropriate mitigation techniques. Before you can
reduce your likelihood of loss, you need to identify what could cause those
losses. |
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Action Step:
Carefully review each part of your business operation and note what could
cause a significant loss in that area. Once you complete your risk
inventory, sit down with your insurance advisor to make sure your insurance
policy covers all the potential property losses your business could face.
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2 |
Inventory your assets
and store that documentation offsite.
Proof of your buildings and their contents can be invaluable in case of a
loss. |
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Action Step:
Take photos or videos of all your business property and equipment and store
this information offsite with copies of your insurance policy, titles, and
deeds. Be sure to update these records to reflect changes to your property
and equipment |
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3 |
Install and maintain
appropriate fire detection and suppression equipment.
One of the greatest risks your business faces is fire. Workplace fires often
start with defects in machinery or electrical equipment, or from improper
handling of flammable liquids and gases. |
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Action Step:
Make sure your employees and your property are protected by the appropriate
fire detection systems (smoke and fire alarms) and fire suppression
equipment (fire extinguishers and automatic sprinkler systems). |
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4 |
Consider installing a
burglar alarm system.
Particularly if you manufacture, store, or sell high-value items, you'll
want to think about installing a burglar alarm system to protect your
business. |
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Action Step:
Look for a system certified by Underwriters Laboratories (UL). These systems
are certified to meet established performance standards and are generally
covered by maintenance and service contracts. |
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5 |
Back up your computer
records regularly and store them off site.
If your computer server were destroyed or stolen, think how much time and
money it would take you to recreate your electronic data…if you even could
recreate it completely. A setback like that could put you out of business
temporarily, maybe even permanently. |
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Action Step:
Make sure you back up your computer records regularly (daily or weekly) and
store those back-ups offsite. Also, review your property insurance policy to
see if it provides enough protection for your computer data as well as for
your computer equipment and data. |
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6 |
Install and update
anti-virus software on each employee's computer.
Most computer viruses enter networks through e-mail servers. But employees
can also inadvertently load viruses along with files onto their individual
computers, which in turn can infect the entire network. |
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Action Step:
Install anti-virus software on your e-mail server, and maintain anti-virus
software on each computer. Because hackers are constantly developing new
viruses, you'll also want to regularly download and install the latest
versions of anti-virus software. |
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7 |
Make sure your
disaster recovery plan isn't a disaster.
More than 40% of the businesses that suffer a disaster (and don't have a
disaster recovery plan) never reopen. But a temporary setback doesn't have
to turn into a permanent failure…if you have a plan for getting back on your
feet. |
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8 |
Have a plan that kicks
in when the power goes out.
Many businesses protect their electronic equipment with uninterruptible
power supplies (UPS) that activate when the power fails. But that's only a
short-term solution. |
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Action Step:
To meet demand during outages that last longer than your UPS can cover,
secure a second source of commercial AC power or install a back-up power
generator. And make sure your employees know how to safely power down
computers and back up important data and program files. You'll even want to
have "power-down" drills to make sure your employees know how to protect
your company's valuable data. |
