As the flood crisis in Queensland continues to develop and spread, many businesses are considering diverting or shutting down operations in order to protect their staff, assets and revenue streams. Marsh gives the following advice:
Businesses can prepare by taking the following steps:
- Actively monitor and follow the advice provided by emergency services in a timely manner
- Locate your business continuity plan if it exists and conduct a very quick review
- Ensure arrangements are in place to contact staff, suppliers and customers, including ready access to telephone, email and home address details
- Secure critical records and files including accounts, customer lists, inventories, insurance details etc.
- Activate plans to isolate or protect assets and equipment to minimise damage or loss
- Test arrangements to divert telephony and other critical services
- Be timely in decision-making and be prepared to be out of your premises for multiple days
Next steps & contact information
Marsh says insurance coverage will depend on a number of factors, including the terms of your policy.
If you have insurance questions or wish to notify a potential claim please contact your Client Executive by phone or email. Alternatively, you can contact Richard Lance on (02) 8864 8279 or Glenn Chesworth on (02) 8864 8617.
Marsh’s Forensic Accounting and Claims specialists may be consulted and appointed to assist the management of your claim and post-loss recovery.
Click here for further flood related insurance information
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