“80% of companies without any survival plan go into liquidation within 18 months. A further 10% suffer the same fate within 10 years.”

Zurich Insurance

The facts relating to business disaster planning make alarming reading. Having adequate insurance cover will ensure the replacement of lost stock and equipment. It will also ensure you receive financial compensation for an agreed period to meet lost profit and cover business overheads.

However, aside from the problems of replacing premises, stock and machinery, there are intangible factors such as customer confidence and loyalty. You will need to convince customers that your business will recover from the loss quickly and still be able to deliver goods and services to them.

Key Considerations

  • Immediate action plan following a loss
  • Creation of a full disaster plan
  • Alternative production facilities
  • Demolition and rebuilding issues
  • Customer confidence
  • Supplier agreements