12 Tips for Safeguarding Your Business

12 Tips for Safeguarding Your Business

As a business owner, it is always best to expect the unexpected. Having an emergency preparedness plan is important for businesses of all sizes. Here are some tips to make sure that you are prepared.

1.       Review your current business insurance policy to make sure that you have the right coverage for your needs. Get in touch with your insurance representative to ensure coverage is suitable while taking into consideration office space, equipment, inventory, company vehicles and employees.

2.       An emergency plan is crucial to prepare you and your employees for any risks that your business could face. Have a plan with instructions on how to prevent and/or manage situations that may arise.

3.       Make sure your plan also includes safety instructions such as evacuation routes, off-site meeting locations, and how to shield from potentially hazardous elements.

4.       Ensure that your employees are prepared. Hold an annual drill or conduct exercises to keep your staff familiar with the emergency preparedness plan. If necessary, assign a “go-to person” or backup who has access to passwords and codes in case you are absent.

5.       It is a good idea to assign pre- and post-emergency tasks to your employees. Have one of your employees stock the first-aid kit while another communicates with vendors following the emergency.

6.       Stock an emergency kit. Any basic emergency kit will help you get through the crucial 72 hours after an emergency. A list of supplies to have on hand can be found on www.getprepared.gc.ca

7.       If possible, keep a portable gas generator and extra fuel as emergency backup power. Fuel should always be stored in a well-ventilated area.

8.       Regularly update firewall and antivirus software on computers and networks to protect critical systems.

9.       It is important to perform consistent data backups using off-site or web-based options. On-site data backups could get lost in the event of a fire or theft.

10.   Ensure that the premise of your company is secure. Water sprinklers and impact-resistant windows and doors can be installed. Prepare to protect from any injuries or damage by fastening bookcases, cabinets and any large object to walls. Use safety latches on cabinet doors, and secure computers and cash registers so that they won’t fall.

11.   It is a good idea to create a business continuity plan. Communicate what can be done to ensure that your business is kept running during or after a disruption.

12.   Review and update your emergency and business continuity plans frequently. Always make sure everything is up to date and adjusted to accommodate any changes in your business.

Speak to one of our brokers today for more information at 905-696-9090 or This email address is being protected from spambots. You need JavaScript enabled to view it. 

Source: Insurance Bureau of Canada

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