How to Develop an Effective Disaster Recovery Plan for Your Business

Planning ahead is essential when you’re running a business. Anything can happen; that’s why planning for a problem to occur is vital to the growth of a company.

While getting attacked by cyber-attackers or experiencing a natural disaster is not something that people can necessarily plan for in advance, being prepared for the aftermath will save a business a lot of money in the long run. If a disaster is big enough, it could effectively close the doors of a business. How can someone combat that?

In the event of an unforeseen disaster, having an ironclad disaster recovery plan in place will allow a business to immediately jump into action. Instead of being overwhelmed by the effects of the disaster and everything that has to be taken care of, you will know what needs to be done, when it needs to be done, how to do it, and who is responsible for which actions. This is how to develop an effective disaster recovery plan for your business, courtesy of the Insurance Information Institute.

Key Elements to an Effective Disaster Recovery Plan

No business wants to think about being affected by a bad storm, an earthquake, or a cyber-attack, and these events come with little to no advance warning. Rather than waiting until the disaster has already struck to think about solutions, plan ahead and ensure that you will know what to do when the unspeakable does occur. Not only will this minimize losses and reduce the amount of stress and confusion from your business and your clients, but it will also help you to be more efficient and jump back into business quickly.

  • Train an emergency response team with vital employees assists in an effective disaster plan. Make sure that those who need to know are aware of what’s going on.
  • Write out each employee’s responsibility and assign them.
  • Keep track of important phone numbers and addresses, including local emergency services.
  • If you’re losing customers, find out a way to effectively keep them. Also consider whether the disaster requires you to notify your clients (such as if their data has been compromised, or if your business has to temporarily close).
  • Physical disasters need to conform to safety standards.
  • Businesses can lose a lot between third-party and other suppliers. That’s why it’s important to tackle the problem before it gets worse.
  • The building needs to be adequately protected.
  • Duplicate records of every important document should be kept.
  • Any critical business activities and resources that are discussed need to be addressed.
  • Protect computer systems and data.

No matter how prepared you are, some losses might not be able to be salvaged. In those cases, it’s important to supplement your disaster recovery plan with a Business Property Insurance program that will cover any damage to your business’s property as well as for potential business interruption. Contact an agent today for a quote.

About Haughn & Associates

Founded by Michael Haughn in 1986, Haughn & Associates is a full-service, family-owned, independent insurance agency based out of Dublin, Ohio. H&A strives to provide the best possible price and unique insurance solutions across a myriad of industries, including construction, IT, Habitation & Commercial Property, Agriculture, and Engineering. Devoted to providing the best of business insurance, life and disability insurance, personal insurance, employee benefits, and bonds, H&A is proof that success lies in long-standing client relations and satisfaction. To learn more about how H&A can be of service to you, contact us at (877) 802-2278.