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Emergency Planning
How to Make a Quick Recovery
? Buy supplies. The last thing you want to do is go searching for a generator just before a storm hits, says Stacy Bercun Bohm, a member of the disaster recovery team at Akerman Senterfitt law firm in Miami. When stocking up on supplies, don't forget some extra water or cash for employees.
? Review your insurance. Look at the details of what's covered. Most people now know that property insurance does not cover flood damage. But business owners may be less familiar with the terms of their business interruption insurance, which also often does not cover flood damage or even power outages. "Many perils are not covered by business interruption insurance," says Thaw.
? Have an emergency fund. If power is out, you may need cash to buy gasoline and other supplies. But beyond a stash of cash, have a fund to pay bills that aren't covered by insurance or that are due before the insurance kicks in.
? Look beyond hurricanes. The business ramifications of avian flu, a bioterrorism attack or a chemical spill may be far different from those of a hurricane or tornado. Plan for how your company will respond to quarantine or a dramatic slowdown in business.