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2024-12-20
By: Advocate Brokerage
Old Man Winter has arrived giving the cold shoulder to safety. But as a business owner, you can’t let the snow and ice put a freeze on your business. Today, we take a look at a few quick tips that can reduce weather-related threats that loom when temperatures drop below freezing.
First things first: review your business insurance. Make sure that your policy covers damage from weather-related threats, including floods, freezing temperatures, and wind. You may need to consider specific endorsements for certain weather-related hazards. You’ll also want to take steps to protect your business from liability claims due to slip and fall accidents. Business Interruption Insurance is also the perfect gift to give yourself this season.
While your insurance can protect you from financial losses, you will also need a business continuity plan that identifies critical functions and establishes clear communication channels with your key employees, customers, and suppliers. Work with your IT department to create and confirm a data backup and recovery system and to explore options for remote work.
Depending on the type of industry you are in, you may need to winterize your industrial, outdoor, and transportation equipment. It’s also well past time that you had your heating system serviced and called in your roofer for an inspection of your roof and gutters. Check the supply closet for snow removal equipment and ensure you have plenty of de-icing material on hand.
There is no way to cover every single risk that businesses face. But a good place to start is by monitoring upcoming weather events. If your business is open in sub-zero temperatures, prevent slipping and falling accidents by clearing walkways, parking lots, and points of egress. And to provide protection against lawsuits you must keep a log with dates and times of all snow removal activities (plowing, shoveling, salting). It’s also crucial to place warning signs in areas where ice might be present. You can help protect your employees by providing traction devices or slip-resistant footwear.
If you use a snow removal service, you should have a contract with them that includes insurance requirements and an indemnification agreement.
While this is not a comprehensive list of things that will keep your business safe this winter, by implementing the tips above, you may be in a better position to keep your business from falling victim to costly claims.
Contact your Insurance Advocate today for more information or for a no-obligation review of your business insurance.
