IT is still not too late for businesses to take action to combat the impact of any repeat of last winter’s bad weather, according to one of the island’s leading general commercial insurance brokers.
Last winter was the coldest for 30 years, with the Association of British Insurers reporting that insurers paid out a staggering £644 million to firms in the British Isles as a result of weather damage and disruption.
To avoid any repeat of 2010 and with the arrival of winter, companies need to be making contingency plans so they are geared up to manage the impact of any bad weather.
That’s the advice of Bryan O’Connor, insurance manager at Douglas based Island Financial Solutions.
The island has already been battered by some of the worst gales in living memory, wintry weather and it is feared more bad weather is on the way this winter.
Now, to help local businesses minimise the effect of winter weather, the company has drawn up a comprehensive checklist applicable to company premises, staff and even vehicles that employees use for travelling to and from work.
Bryan said: ‘Many people assume their buildings and contents insurance will automatically cover them for winter weather, for things like storm damage and flood damage.
‘But it is worth checking when it comes to winter weather insurance that your insurer doesn’t exclude or limit cover for storm or flood damage.
‘You should also check that your excess is reasonable.’
Bryan sent this message to companies: ‘As an employer, you have a duty of care to maintain safe access and a safe working environment for your employees and any visitors to your premises.
‘Lack of preparation for winter weather can have significant consequences, including building damage, business closure and reduced profitability’
With some sensible advance planning, companies can effectively minimise the impact of winter storms.
For any businesses concerned about their current level of insurance cover, Island Financial Solutions Ltd is able to offer a review of current insurance policies to ensure that adequate cover is being provided.
Island Financial Solutions six key ‘are you prepared’ tips for businesses on beating the bad weather:
l Ensure your business continuity plan and emergency plan for employees are both in place and up-to-date
l Can you move operations to an alternative site if your premises are inaccessible for days or weeks at a time
l Implement a communication tree to keep staff informed of any weather issues
l Check any outbuildings or rarely used buildings. Check and clear all drains and gutters
l Grit areas vulnerable to ice such as pavements, entrances or steps and make sure warning signs are visible
l Staff should check their vehicles are in good condition, especially tyres, anti-freeze and fluid levels, wiper blades, lights and de-icing equipment.
For further information, contact Bryan O’Connor on 614618 or 466684. Alternatively, you can email bryan@ifs.im