What Causes Business Interruptions And How To Protect Your Company
Posted: 12-12-14Category:
There are several things that cause business interruptions and here are a few of them. Natural disasters are a common cause of business interruptions and after a disaster you could be out of business for a few weeks or even months until you finally rebuild the business again. Another reason a business interruption could happen if there is major theft that occurred to your business and that temporarily stops operations from happening. Vandalism could cause business interruption as well as malfunctioning of office equipment. During a business interruption you lose out on revenue and potential customers. Here are ways you can protect your company against business interruption.
Obtain Business Interruption Insurance
Because business interruptions can occur suddenly, it is wise to purchase business interruption insurance so that when an interruption happens, you can use the insurance funds to protect your company from closing down. If you have business interruption insurance you should look over your policy to determine what is covered. If you were recently denied a claim from the insurance company, meet with a Texas insurance claim lawyer to assist you with receiving your claim.
Develop A Continuity Plan
Another thing you want to do is develop a continuity plan for your business in the event an interruption happens. Identify the aspects of your business operations that would the most affected by a business interruption then you will need to think about how you could minimize the risk. Store your most important information electronically so that they will not be lost following a business interruption.
Meet With A Houston Trial Attorney
If the cause of your business interruption was theft or arson, then you can protect your company by meeting with a Houston trial attorney because he can not only bring the criminals to justice but he is also capable of giving you counsel on how you can keep your business from going under completely after the interruption.
Business interruption can destroy a business permanently but it doesn't have to be this way. If you develop a continuity plan and seek assistance from a Texas insurance claim lawyer or a Houston trial attorney, the business interruption will be short lived. Every few months you need to go over your disaster recovery plan for the business to see if any changes need to be made to it in order to minimize the negative effects of a business interruption following a disaster. You also want to contribute regularly to an emergency savings account so that you'll have funds to rebuild the business in addition to the insurance funds.