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Immediately after receiving a Small Business Administration (SBA) disaster loan, McNeil relocated his plant away from the floodplain and asked one of his staff to take on the added responsibility of “safety coordinator.”
A communications method is a crucial post-disaster recovery strategy. Telephone numbers and e-mail addresses for your insurance carrier, suppliers, creditors, employees and consumers, the local media, utility companies, and also the appropriate emergency response and recovery agencies needs to be updated on a regular basis.
As an example, in July 1996, the president and owner of Brookville Mining Equipment Corporation, Dalph McNeil, faced every single company owner’s nightmare when the nearby creek crested at eight feet immediately after a 24-hour downpour.
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When shopping for insurance coverage, think about property damage and the loss of revenue and extra expenses that occur when enterprise is halted by a disaster. Organization interruption insurance covers necessary expenses that occur whilst the organization is shut down. Many business owners don’t realize that basic hazard insurance coverage does not cover flood damage. Extra purchased flood insurance coverage is essential; most from the over $10 billion in disaster loans made by the SBA right after last year’s Gulf Coast hurricanes were for flood damages.
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