Recap of Lesson 3: Secure and Protect

• Securing your physical workspace

• Identifying alternate locations

• Protecting your physical and digital data

• Strengthening your cyber security

Adapt, Recover, and Repeat

• Protecting your business financially

• Regular risk assessments

• Recap key concepts of the program

Key Goals

Objectives for this lesson:

• Understand your finances during a disruption

• Review your insurance plans

• Re- assess your risk

• Establish a process for continued business resiliency

Financial Preparedness

Expenses

Income

Understand Your Cash FlowKnow Your Finances

Emergency Funds

Rainy day fund

Disaster financing assistance

Company credit card

Contingent lines of credit

Review Your Insurance Coverage

Know your insurance basics

• Match your coverage to your

risks and needs

• Ask direct, specific questions

• Clarify unclear language

• Use checklists

• Re- assess annually

DHS Insurance Coverage Discussion Form

Types of Insurance For Your Business

• Protects your building and its contents, exterior components, other physical assets

Property

• Replaces income lost if business is halted due to disaster

Business Interruption

• Covers extra expenses that wouldn’t have been incurred otherwise

Extra Expenses

• Earthquakes, floods, volcanoes, mudslides, tornadosCatastrophe

Insurance Coverage Discussion Form

Insurance Resources

Financial Considerations For Recovery

• Insurance: File claims quickly, maintain good

financial records and asset inventory

• Cash Flow: Explore your options, call

creditors, prioritize

• Maintain communication with stakeholders

PAUSE, BREATHE, STRETCHANY QUESTIONS SO FAR?

Establish a Process to Re - Assess Your Risk

Establish a Process to Re - Assess Your Risk

1. Identify and Describe Hazards (Natural or Manmade)

2. Identify Assets (Who or What will be affected?)

3. Analyze Risksa. Historical Occurrencesb. Exposure Analysisc. Scenario Analyses

4. Summarize Vulnerability

5. Incorporate Changes

Ways to Stay Resilient

DEVELOP A LOCALIZED HAZARD AND VULNERABILITY ASSESSMENT: • HOW MIGHT A DISASTER HAVE HUMAN, PROPERTY, AND OPERATIONAL IMPACTS ON YOUR

BUSINESS?• HOW MIGHT THESE CHANGE OVER TIME? • HOW WILL THIS AFFECT THE WAY YOU PRIORITIZE THE EXPENDITURE OF M ITIGATION

RESOURCES?

ESTABLISH A DUE DILIGENCE PROCESS FOR YOUR OWNED OR LEASED SPACE: • WHAT ARE YOUR EMERGENCY COMMUNICATIONS PROCEDURES, POST- EVENT SECURITY PROTOCOL,

VULNERABILITIES, ETC. AND HAVE THESE BEEN ASSESSED AND DISCUSSED WITH YOUR LANDLORD?

• EXERCISE YOUR CONTINGENCY OPTIONS TO REVEAL GAPS, MAKE CORRECTIONS, AND INCREASE CONFIDENCE IN YOUR PLAN.

Ways to Stay Resilient

The Outsmart Disaster training program is a great starting point for becoming familiar with foundational concepts of resiliency planning.

Implementing even a few of these tools can be some of the most effective ways to protect your business from both natural and manmade disasters.

Leverage free resources: Small business development centers, Women’s Business Centers, Minority Business Development Centers, etc.

Training Program Core Planning AreasBoiling it all down:

• Know your risks• Know your essential processes• Manage stakeholder relationships• Have an emergency plan• Protect your physical and digital assets• Maintain appropriate insurance coverage• Understand your financial options• Test and update regularly

A Last LookPrepare and Anticipate

Determining your essential business functionsAssessing your business process dependenciesDocumenting Your business Initial assessments and planning scenarios

Support Key StakeholdersDeveloping an effective approach to stakeholder management Protecting your supply chain Training and caring for your employees

Secure and ProtectStrengthen your facilitiesSafeguard your information

Adapt and RecoverReviewing your insurance plansUnderstanding your finances during a disruptionEstablishing a process to re - assess riskNext steps for continued business resiliency

Continued Learning

The Resilient Business Challenge is a self - guided online tool curated by state and local economic development experts that includes five detailed steps to business resiliency.

Continued Learning

The Resiliency Toolkit is perfect for businesses looking for quick resources to reference on their own time. The toolkit includes a variety of items and will expand over time to help cover a range of resiliency topics.

Continued Learning

Opportunities for Additional Study• FEMA Emergency

Management Institute• American Red Cross

Training• Community Emergency

Response Teams

Questions or Feedback?

Contact us at arroyo@outsmartdisaster.com

SURVEY TO COME!

Congratulations and THANK YOU!