Episode 056 | Natural Disasters: Tips for Recovery and How to Prepare for the Future

Natural disasters happen. Oftentimes, they are sudden with no way to prepare. 

After a disaster, business owners are not only faced with property damage but  also with business closures, damage to their employees’ properties and other aspects that make it hard for their business to stay afloat. 

But what if you could put a plan in place to keep you and your business sailing smoothly? 

If you don’t have a plan, are there steps that you can take to ease your recovery? 

In this episode of The Wrap, Warren Averett’s own Mindy Rankin, CPA, CCD, and Tammy McGaughy, CPA/ABV, CFF, CFE, join our hosts to discuss how businesses are impacted by natural disasters, how they can recover and what steps can be taken to prepare and prevent future losses.

After listening to this episode, you’ll be able to: 

• Understand what a casualty loss is, as well as the requirements and who is excluded. 
• Know what a qualified disaster is, how it could benefit your business and the steps you need to take to rally for this special designation.
• Better understand business interruption claims, and how you could get insurance to help prevent money loss.
• Prepare for natural disasters by picking out the best insurance policy to help you through.
• Test your disaster recovery plan to ensure everything is ready in case of another natural disaster. 

Additional Resources:

• Casualty Losses: What You Need to Know to Help Your Business Recover from a Natural Disaster
• 5 Steps to Make a Business Interruption Claim
• How to Prepare Your Business for a Natural Disaster