Are you prepared for a business interruption?
Are you prepared for a business interruption?
Blizzards that struck the U.S. East Coast over the weekend are likely to result in “multi-billion” dollar economic losses in one of the worst storms in the region in over a century, as reported by Reuters. This is just another reminder, like Hurricane Sandy in 2012, regarding the importance of having the right insurance in place, particularly business interruption insurance.
According to Business Insider, a small business probably won’t survive if it does not resume operations within 10 days following a natural disaster. Without the right coverage and the associated access to funds to get your operations back to normal, there is little hope of survival. 80% of companies who struggle to re-open fail within a month.
43% will never reopen their doors; ever
At KMRD Partners, we have engaged Agility Recovery Solutions to prepare for a business interruption. As a satisfied client, we are able to recommend Agility with confidence. To learn more about this company and the services it provides, please visit http://www.agilityrecovery.com/ or call your KMRD representative for an introduction.
Many small and quite a few larger middle market businesses do not carry sufficient business interruption coverage. It is an essential risk transfer tool when done correctly with some thought and planning. Please contact a KMRD Partners relationship manager to determine if your firm has sufficient coverage.
KMRD reduces the overall cost of risk by producing a greater value for each commercial insurance dollar spent, while utilizing an enterprise risk management approach to engineer the optimal solution.
We are dedicated to the mitigation of risk, safety and loss control and claims advocacy, while helping firms recover from unplanned events that wait on the other side of one minute from normal.
For more on business interruption click here.
To identify and correct coverage and service gaps in your insurance coverage contact us at contactus@kmrdpartners.com before one minute from normal strikes.
Need to deliver better risk management results for your company? Schedule a brief demo of our unique collaborative risk management system, KMRD XChange.
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