Business Interruption Insurance and other Steps to Disaster Recovery

The Sunshine Coast is one of Australia’s largest metropolitan areas, and a flood-prone area at that. Local businesses can grind to a halt should floods and other natural disasters strike. For this reason, it would be wise to have the kind of business interruption insurance a trusted provider like Insuring theProduct has to offer. If your place of business does get into a disaster, though, be sure to know what it takes to recover through a business continuity insurance program and get back up on your feet.

Immediate Steps after a Disaster


Before you even begin to think about dealing with the aftermath of a disaster, you should first ensure the safety of everyone within your premises. SmallBiz puts it rather succinctly:

First of all, take necessary actions to ensure safety of everyone in your facility. This includes identifying and locating all employees, moving them out of the building and determining whether any of them is missing. Parts of this should include shutting-off the electricity, water and gas and not returning to the building until you are permitted to.

When you are allowed back into your building, thoroughly inspect your entire facility and record a complete description of all damages to it. Also, make sure that building is safe before reopening or allowing employees to return.

Contact your Insurance Provider

Call up your insurance provider before any cleanup or repair works commence so you could figure out how much of the costs you can have covered. Insurance brokers like Insuring theProduct on the Sunshine Coast can also help you find the best business interruption insurance coverage for your needs, so be sure to give them a call even before anything happens.

Communicate with Everyone

You should contact every employee, client, stakeholder, and anyone else who has a vested interest in your company. Provide them information about the current status of your place of business and reassure them that you will be back in operation within a reasonable length of time.

Conduct an Inventory and Data Check

Finally, it’s time to check up on the damage. Do an inventory of every merchandise, equipment, machinery, and supplies that you lost in the disaster. You should also test your server and make sure important or sensitive business data can be recovered. This is the point where your disaster preparedness and data recovery plans will be put to the ultimate test.

(Source: Immediate Steps after a Disaster, SmallBiz Connect)

Keep Up To Date

Join our Newsletter for regular relevant insurance and risk management updates for your business


This advice does not take into account any of your particular objectives, financial situation or needs. For this reason, before you act on this advice, you should consider the appropriateness of the advice taking into account your own objectives, financial situation and needs.

Before you make any decision about whether to acquire the policy, you should obtain and read the product disclosure statement for the policy.

We recommend you read our Financial Services Guide for information on our services and how we are remunerated.