Travelers Reminds Business Owners that Preparation Is the Best Way to
Weather 2010 Season
HARTFORD, Conn.--(BUSINESS WIRE)--
With this year’s hurricane season upon us, Travelers (NYSE: TRV)
reminds small business owners of the importance of being prepared for
hurricanes. June marks the beginning of hurricane season and Travelers
has developed a list of the top five things that small business owners
can do to make sure their businesses are properly protected should a
storm hit.
1.Create a Business Continuity Plan and Establish an
“Emergency File”
Business owners should review their Business Continuity Plans and
communicate emergency evacuation and business interruption instructions
to their employees at the start of the hurricane season. If a Business
Continuity Plan is not currently in place, now is the time to speak with
an independent insurance agent to help develop one. Owners should also
create and properly store an “emergency file,” which would contain all
vital business-related documents such as insurance forms, customer
records and supplier lists that might be needed at a moment’s notice to
keep a business running. To learn more about Disaster Planning for Small
Businesses, watch this free webinar
replay provided by Travelers
Risk Control.
2.Back Up Your Business
According to a survey by the National Federation of Independent
Businesses (NFIB), 21 percent of small businesses struck by disaster
were forced to temporarily close operations because of power loss. In
order to ensure that the bottom line isn’t affected by loss of
electricity, business owners should keep a backup generator and plenty
of batteries on hand so that business operations can continue.
3.Protect Your Windows and Doors
One of the easiest ways business owners can protect their operations
from damage is by securing all windows and doors, even those not facing
the ocean or gulf. Check for leaks and termite damage before a storm is
in the forecast and have repairs made as necessary. All outside doors
should be fitted with a dead-bolt lock and three hinges. If a business
is located directly on the beach or gulf, storm shutters are also
strongly recommended.
4.Trim Your Business Risk
More than 60 percent of the United States is vulnerable to damage from
high-wind events such as hurricanes, according to the Institute for
Business & Home Safety. Yet, it isn’t always the wind that damages roofs
and breaks windows; it can also be caused by landscaping and shrubbery.
Trees and shrubs should be trimmed so that branches are at least seven
feet away from any exterior building surface. Owners should also remove
any bricks or loose debris from their buildings before a storm hits to
avoid having them become dangerous projectiles in the wind.
5.Review Your Policies
It’s no secret that business owners are strapped for time. As a result, Business
Owner’s Policies (BOP) are often not reviewed more than once a year.
Travelers recommends reviewing BOPs at the start of every hurricane
season to ensure a business is properly covered for potential hurricane
losses like wind, flood and interruption issues. Owners should consult
their insurance agents about any necessary add-on policies, as flood is
not part of a standard BOP.
“Businesses without proper insurance coverage and those that don’t plan
ahead to mitigate risk are at great risk of not recovering following a
hurricane or other natural disaster,” said John P. O’Connor, Vice
President of Product and Underwriting, Travelers Select Accounts.
For information about hurricane preparedness or small business
insurance, visit the Emergency
Preparedness section of the Travelers Risk Control website or
contact an independent
insurance agent.
About Travelers
The Travelers Companies, Inc. (NYSE: TRV)
is a leading property casualty insurer selling primarily through
independent agents and brokers. The company’s diverse business lines
offer its global customers a wide range of coverage in the auto,
home
and business
settings. A component of the Dow Jones Industrial Average, Travelers has
more than 30,000 employees and generated revenues of approximately $25
billion in 2009. For more information, visit www.travelers.com.
Source: Travelers Companies, Inc.
Contact:
Travelers Companies, Inc.
Jeffrey Weir, 860-277-8692
jsweir@travelers.com