Insurance Claims And Issues

Different Business, Different CatClaim Preparations.

     Different businesses get ready for Catastrophe Claims in different ways, it is reported in "Getting Ready for Storms is Major Job For Big Businesses" p. C1, col. 5 "Central Florida Business" Section (Orlando Sentinel, Friday, June 13, 2008), published online as "Past Storms Taught Lessons Big Businesses Won't Forget".

     Something these businesses all have in common with each other, and with every individual as well:  Finding and keeping Insurance Coverage for Catastrophe Claims in the near future now, and in future days far ahead.

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... And Now, On To Everyone's Business Preparing for Catastrophe.

     Good advice for preparing for CatClaims that everyone can put to use is found in "Preparation Eases the Aftermath," published on Friday, June 6, 2008 by the Los Angeles Times Online, found at www.latimes.com.

     Among the good advice given there is to contact your agent or broker --before Catastrophe strikes -- to determine the levels of Insurance Coverage right for you.

     Also, keep records of everything new in your home -- not just recently added personal property such as jewelry but also home improvements and renovations.

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Small Business Planning for Catastrophe (Heaven Forbid).

     Some things that small businesses can include in their planning for CatClaims are addressed very well by Joyce M. Rosenberg, Associated Press, "Disaster Planning for Small Businesses," May 26, 2008, available online at www.latimes.com.

     The first order of small business planning is to provide for adequate Insurance Coverage.  This includes Coverage for Catastrophe losses as well as losses from fires, storms, floods or earthquakes depending on where the business is located.  The article also offers good advice to look into Business Interruption Insurance.

     On-the-ground Catastrophe planning mentioned in the article includes:

• "Contact list":  One person quoted by the newspaper reporter recommends having not less than five (5) ways to get ahold of every single employee.
• "Data":  As recommended not only in this newspaper report but in many, many other pieces by many other people as well, look into a USB port.  They are easily portable and are easily stored in a secure location.  Many automatically -- or, as in my office, at the command of only a few key strokes -- back up hard drives.
• "Backup generator":  Perhaps a good idea for businesses that have the capacity and opportunity, as suggested in this newspaper article, but impractical or impossible for many business owners who lease.

Other suggestions are raised in the newspaper article, among other reports.  Last but not least, here are some websites for further ideas and suggestions:

• The Institute for Business & Home Safety:  www.disastersafety.org; and

• U.S. Small Business Administration:  www.sba.gov/bewareandprepare/business.html.

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Risk Management Skills in the Service of Better Insurance Coverages.

     Risk management skills are not frequently found among smaller policyholders and groups of policyholders.  Risk management skills in the service of better insurance coverages are needed, and are increasingly in demand, across the nation.  That point is made, together with reporting on problems unique to older New England church buildings, in Brian R. Ballou, "The Underinsured Read It and Weep/Local Churches Often Skimp on Fire Policies" (Boston Globe Online at www.boston.com, Sunday, May 4, 2008).

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