Business Contingency Planning

What is a business contingency plan? Do you have one for your business?

Another word for contingency is emergency, so a Business Contingency Plan refers to how you react to a disaster that affects your business operations.

The 3 Steps to Business Contingency planning are:

  1. Identify Potential Issuesbusiness contingency
    • Make a list of potential disasters, natural or otherwise.
    • Determine temporary back up facilities.
    • Make sure key business documents are saved and stored offsite. This can include cloud storage that can be accessed online.
  2. Develop An Action Plan
    • Create an evacuation plan.
    • Assign roles such as crisis manager.
  3. Make sure employees are well informed
    • Keep a list of employee emergency info offsite.
    • Have emergency drills

 

We thank Arbella Insurance for these tips.

Contact your local insurance agent for more tips for protecting your business.

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