Snow, sleet, ice... oh my! Winter can interrupt your business operations at the drop of a snowflake. Prepare and protect your business from the perils of winter by following these risk management tips:
1.) Winterize - Deter Physical Threats
Some of the biggest risks of the season are frozen pipes and flooding. Be sure that your pipes are insulated and monitored. "Cost Helper, a website that aggregates statistics related to repairs and maintenance, states that a burst pipe can cost in excess of $3,800 if it is located in a wall or the building's foundation, while subsequent water damage can run up to $70,000."
Also, check that your building is protected from flooding. A little flood insurance never hurt anyone, and can be vital in the event of a major event. "The Federal Emergency Management Agency reports that about 40 percent of small businesses never reopen after a flood, as the average claim for one of these events is about $85,000."
2.) Watch the Walkway
Icy sidewalks and parking lots are other major risks to your business. If someone were to slip and fall outside of your building, you can be held liable for their medical bills. Some cities even penalize companies with tickets even if no one falls. Better to be safe than slippery!
3.) Have a Plan B
Make a plan in case a winter storm or other event were to endanger your employees' commute. If travelling becomes unsafe, it is important to have a contingency plan for telecommuting, if possible. If not, be prepared to possibly miss several days of productivity.
Be sure to have a reliable way to efficiently communicate with your employees in the event of an unfavorable forecast.
Prepare, be safe and stay warm!
Article Source: http://social.selective.com/winter-preparation-business.html?utm_source=NYCU-1-18-18&utm_medium=email