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DISASTER RECOVERY
In the aftermath of a man-made or natural disaster, you and your company will have a number of concerns to account for as you prepare to reopen for business. Follow this checklist to ensure that you take the proper steps to recover after a disaster strikes.
| RECOVERY STEPS | COMPLETE |
|---|---|
| Decide with your partners or co-owners to dissolve your business entity. Document the decision with a written agreement. | |
| Contact your insurance provider(s) to start the claims process. | |
Assess damage:
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| As they come to your attention, compile a list of concerns that must be addressed before you are able to reopen. | |
| Contact employees, suppliers and customers to inform them of any disruptions in operation and an expected date when they can anticipate it to resume. | |
| If you have concerns that damage to a building could pose a safety hazard to employees or customers, have the building professionally inspected. | |
| Properly secure the building while repairs are being made or if relocation of business activity is necessary. | |
| Ensure utilities are restored and in safe working order before resuming business operations. | |
| Properly repair and clean facility to ensure the environment is free of any safety hazards before resuming business operations. |
| FINANCIAL CONSIDERATIONS | COMPLETE |
|---|---|
| File a claim with your business interruption insurance provider. | |
| Determine the amount of lost income the disaster has caused. | |
| Compile the following information to share with you insurance adjuster: | |
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| Consider any financial responsibilities you may have, such as payroll or scheduled payments to creditors. | |
| Keep detailed records of all expenses incurred during the recovery process. |
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