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Up to 30 inches of rain in some parts. Roads closed. Evacuations. Power outages. And, most sadly, five deaths.
It’s early August and the 2024 Atlantic hurricane season was definitely under way and in clear evidence as Debby landed in Florida and moved onto Georgia and South Carolina.
Debby, in fact, was the fourth named storm of the 2024 season. Seventeen to 25 named storms are expected before the season ends in late November. In July, Hurricane Beryl became the earliest Category 5 hurricane ever recorded before it struck Texas at Category 1 strength, resulting in at least 23 deaths.
The good news is that the experts don’t expect this season to be as severe because we’re in an El Nino year. On the other hand, warmer water temperatures could negate that.
In other words, we shall see.
Until then, we’ve compiled a few tips to help your business update and strengthen your natural disaster recovery plans – whether you’re located in hurricane country or not:
Update Your Disaster Recovery Plan
Maintaining an up-to-date natural disaster recovery plan is vital. With significant changes in work locations due to hybrid or remote work, staffing adjustments, and new technology for emergency response, it's essential that your recovery plan reflects current personnel, equipment, insurance policies, and contacts. Ensure that all members of emergency response teams and key stakeholders have access to the updated plan.
Conduct a Practice Run
Test the effectiveness of your disaster recovery plan by staging a practice run. Simulate various scenarios and have key players perform their roles to identify any weaknesses in the plan. This practice will help you make necessary adjustments before an actual disaster strikes.
Implement Preventative Measures
Disaster preparation is crucial for a smooth response. Take proactive steps to ensure your business can continue operating during and after a disaster. Backup data offsite or in the cloud, train multiple employees to handle critical tasks, and establish backup communication methods in case primary channels are disrupted.
Review Your Business Interruption Insurance
Assess your business interruption insurance coverage to ensure it supports a full recovery from a storm. Accurate reporting of business values is crucial since changes in property values, replacement and repair costs, and inflation can affect current valuations. To prevent severe underinsurance, update your coverage valuations so that claim payouts will be sufficient to rebuild your business.
The Mahoney Group, based in Mesa, Ariz., is one of the largest independent insurance and employee benefits brokerages in the U.S. For more information, visit our website or call 877-440-3304.
This article is not intended to be exhaustive, nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel or an insurance professional for appropriate advice.