As a business owner, it is important to plan ahead and plan for the unexpected. When you hear the word emergency, do you think of a fire, chemical spill, medical accident or some other type of emergency that might occur at your facility?
Emergencies happen every day, but despite the type, RiskandInsurance.com says, “First things first – you need a strategic plan; simple and easy to use. The foundation for the plan is built upon three basic priorities: life safety, incident stabilization, and property conservation. The order of importance of these priorities never changes, even if you can simultaneously work on all three priorities at once.”
Here’s a break down of the three priorities:
- Life safety – refers to the protection of people who may be victims, spectators, or emergency responders.
- Incident stabilization – aims to contain the incident to keep it from growing larger than what is needed to control the emergency.
- Property conservation – entails identifying the most valuable property at your facility and protecting it from damage or any additional damage.
Lastly, take a step back and look at what unique features your facility/business may have that expose you to certain risks or emergencies. Knowing your risks and how you will react or respond to them if they are to become an ‘emergency’ is a must.
Make sure your employees have worker’s comp, look into Business Interruption Insurance, review your property value and lastly, make sure your confident in your plan and how to manage the risks.