According to AccuWeather, the East Coast may be in for a wet and windy couple of months ahead. Hurricane season, which runs from June 1 through Nov. 30, is a little over a month away from its start, but forecasters are already buzzing about what Mother Nature has in store for the East Coast. Weather forecasters are predicting 14 storms – eight hurricanes and six tropical storms – will develop in the Atlantic Ocean this season. However, there is one caveat that could limit the number of storms we experience. Weather forecasters are calling it a “cold blob” of water in the North Atlantic Ocean that could push its way south into tropical regions of the ocean.

Hurricane Preparedness for Businesses in 2016

Regardless, businesses are wise to make sure they are prepared for potential storm losses. Insureds should consider taking these steps over the next couple of weeks:

1. Prepare buildings. Have your buildings inspected and complete maintenance necessary to ensure they can withstand severe weather.

2. Review your current insurance program. Review your policies to ensure appropriate limits and deductibles are in place and evaluate coverage gaps. Your current program may not cover mold damage from flooding. Most property policies have exclusions or extreme sublimits for mold remediation and you may want to consider a separate pollution policy.
3. Review reporting requirements. While every policy is different, most require you to notify the carrier immediately, take reasonable steps to protect your property from further loss and submit “proof of loss” within a certain time period.

4. Create a list of emergency vendors. Verify that you have accurate contact information for your broker, carrier and emergency vendors. Ideally, vendors responsible for handling the aftermath of flooding, fire, power interruption, etc., should be recognized as preferred vendors by your carrier. Prenegotiating rates and availability guarantees with vendors will give you peace of mind and save time and money in the event of a disaster. 

5. Review disaster recovery plans. Make sure your business’s disaster recovery plan is up to date. If it’s been a while since you updated it, check out a recent blog post on the key components of a disaster recovery plan.

6. Review team assignments. Your business’s disaster recovery plan should clearly outline members of this team along with their roles and responsibilities. Key members should include a team leader and a staff of employees that specializes in information systems, insurance, human resources, communications and public relations.