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Recap of Lesson 3: Secure and Protect
• Securing your physical workspace
• Identifying alternate locations
• Protecting your physical and digital data
• Strengthening your cyber security
Adapt, Recover, and Repeat
• Protecting your business financially
• Regular risk assessments
• Recap key concepts of the program
Key Goals
Objectives for this lesson:
• Understand your finances during a disruption
• Review your insurance plans
• Re- assess your risk
• Establish a process for continued business resiliency
Financial Preparedness
Expenses
Income
Understand Your Cash FlowKnow Your Finances
Emergency Funds
Rainy day fund
Disaster financing assistance
Company credit card
Contingent lines of credit
Review Your Insurance Coverage
Know your insurance basics
• Match your coverage to your
risks and needs
• Ask direct, specific questions
• Clarify unclear language
• Use checklists
• Re- assess annually
DHS Insurance Coverage Discussion Form
Types of Insurance For Your Business
• Protects your building and its contents, exterior components, other physical assets
Property
• Replaces income lost if business is halted due to disaster
Business Interruption
• Covers extra expenses that wouldn’t have been incurred otherwise
Extra Expenses
• Earthquakes, floods, volcanoes, mudslides, tornadosCatastrophe
Insurance Coverage Discussion Form
Insurance Resources
Financial Considerations For Recovery
• Insurance: File claims quickly, maintain good
financial records and asset inventory
• Cash Flow: Explore your options, call
creditors, prioritize
• Maintain communication with stakeholders
PAUSE, BREATHE, STRETCHANY QUESTIONS SO FAR?
Establish a Process to Re - Assess Your Risk
Establish a Process to Re - Assess Your Risk
1. Identify and Describe Hazards (Natural or Manmade)
2. Identify Assets (Who or What will be affected?)
3. Analyze Risksa. Historical Occurrencesb. Exposure Analysisc. Scenario Analyses
4. Summarize Vulnerability
5. Incorporate Changes
Ways to Stay Resilient
DEVELOP A LOCALIZED HAZARD AND VULNERABILITY ASSESSMENT: • HOW MIGHT A DISASTER HAVE HUMAN, PROPERTY, AND OPERATIONAL IMPACTS ON YOUR
BUSINESS?• HOW MIGHT THESE CHANGE OVER TIME? • HOW WILL THIS AFFECT THE WAY YOU PRIORITIZE THE EXPENDITURE OF M ITIGATION
RESOURCES?
ESTABLISH A DUE DILIGENCE PROCESS FOR YOUR OWNED OR LEASED SPACE: • WHAT ARE YOUR EMERGENCY COMMUNICATIONS PROCEDURES, POST- EVENT SECURITY PROTOCOL,
VULNERABILITIES, ETC. AND HAVE THESE BEEN ASSESSED AND DISCUSSED WITH YOUR LANDLORD?
• EXERCISE YOUR CONTINGENCY OPTIONS TO REVEAL GAPS, MAKE CORRECTIONS, AND INCREASE CONFIDENCE IN YOUR PLAN.
Ways to Stay Resilient
The Outsmart Disaster training program is a great starting point for becoming familiar with foundational concepts of resiliency planning.
Implementing even a few of these tools can be some of the most effective ways to protect your business from both natural and manmade disasters.
Leverage free resources: Small business development centers, Women’s Business Centers, Minority Business Development Centers, etc.
Training Program Core Planning AreasBoiling it all down:
• Know your risks• Know your essential processes• Manage stakeholder relationships• Have an emergency plan• Protect your physical and digital assets• Maintain appropriate insurance coverage• Understand your financial options• Test and update regularly
A Last LookPrepare and Anticipate
Determining your essential business functionsAssessing your business process dependenciesDocumenting Your business Initial assessments and planning scenarios
Support Key StakeholdersDeveloping an effective approach to stakeholder management Protecting your supply chain Training and caring for your employees
Secure and ProtectStrengthen your facilitiesSafeguard your information
Adapt and RecoverReviewing your insurance plansUnderstanding your finances during a disruptionEstablishing a process to re - assess riskNext steps for continued business resiliency
Continued Learning
The Resilient Business Challenge is a self - guided online tool curated by state and local economic development experts that includes five detailed steps to business resiliency.
Continued Learning
The Resiliency Toolkit is perfect for businesses looking for quick resources to reference on their own time. The toolkit includes a variety of items and will expand over time to help cover a range of resiliency topics.
Continued Learning
Opportunities for Additional Study• FEMA Emergency
Management Institute• American Red Cross
Training• Community Emergency
Response Teams
Congratulations and THANK YOU!