The Hartford

Businesses face risks such as cyber security threats, natural disasters, emergencies and employee protection needs. To help protect your business and your employees, conduct a risk assessment and business impact analysis to understand where you might be vulnerable and the potential impacts on your business, and create disaster plans in advance to help minimize loss and speed recovery. And, make sure you have the right insurance coverage for you, your employees and your business.

Assess your risk. You may not be aware of all the risks you and your company face. Depending on what your business does, there are many factors that could raise your risk level. Aside from natural disasters and emergencies such as fire or flooding, you could be at risk for product liability claims, lawsuits or technology issues.  Work with your Hartford agent and your lawyer to make sure you understand exactly where the risks are and what steps you can take to help mitigate your risk.  Your risk assessment should include any vendors, suppliers and contractual service agreements.

Make sure you're properly insured. Once you've identified the areas where you are most vulnerable, research your insurance options and purchase policies to cover those areas. Work closely with your Hartford agent to find the best policies for your business.

Prepare in advance. The most effective way to reduce your potential losses is to prepare in advance and take steps to prevent emergencies or disaster when possible. Create a Crisis Management plan as well as a recovery plan for after the disaster. Make sure you have the right insurance to cover potential disasters. This will help speed the recovery process and help you get your business up and running again as soon as possible.