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eRisk Management Newsletter

Summer 2019

IN THIS ISSUE:

. Tenant Insurance Benefits for Self-Storage Operations
. Is Your Facility Prepared For Hurricane Season?
. Electrical Safety for Self-Storage Operations
 

Is Your Facility Prepared For Hurricane Season?

Is Your Facility prepared
June 1st marked the official start of the Atlantic hurricane season. This year's extended range forecast published by Colorado State University research scientist Dr. Philip Klotzbach on June 4th anticipates slightly below-normal activity with thirteen named storms including five hurricanes with two classified as major hurricanes (Category 3-5). In addition, this forecast estimates the probability of a major hurricane landfall on the entire U.S. coastline as 48 percent, the U.S. East Coast (including the Florida peninsula) as 31 percent, and the Gulf Coast as 28 percent.

While this year's forecast may bring a sigh of relief to business owners, it's important to point out that last year's hurricane activity exceeded Dr. Klotzbach's predictions in the categories of named storms, hurricanes, and major hurricanes. He reminds property owners that "it only takes one hurricane making landfall to make it an active season for them." Any property owner who experienced Hurricanes Florence or Michael last year can attest to the importance of this warning.

Self-storage business owners in coastal areas are encouraged to act now to prepare for severe weather. The first step is to create an emergency preparedness plan, a basic requirement for all businesses regardless of location. Once the plan has been developed, it is important to communicate it to your managers and employees.

Training – Provide ongoing training for your staff to familiarize them with its key elements and procedures including shelter-in-place provisions and post-storm safety considerations.

Emergency Contacts and Documentation – Assemble a list of important contact information and keep it in a secure location away from the facility premises. It's a good idea to keep a copy of the list on your person when severe weather is imminent. Contacts should include carrier names, addresses, phone numbers, and policy numbers for each of your insurance policies as well as contact numbers for employees, local police, medical facilities, utilities, and other emergency contacts.

Insurance – Contact your insurance agent to ensure that storm- and disaster-related exposures are addressed by your policy. Review your building values, deductibles, and business interruption coverage. The time to address potential financial exposures is before you have a claim, not in the wake of a catastrophic loss.

Vendor Supply Chain – Identify vendors and contractors in your area and talk to them about their ability to respond following a catastrophic event. It may be possible to make arrangements with these businesses to secure priority response for your facility in the aftermath of a catastrophic event.

Customer Contact Information – Keep an electronic record of customer contact data such as email addresses and telephone numbers in order to provide pre- and post-storm communications about accessibility at the self-storage facility and related issues.

In addition to emergency preparedness planning, it is critical to perform maintenance tasks that can help minimize property damage in the event of severe weather. These actions include trimming trees, ensuring that the roof is properly secured to the structure, and regularly inspecting the premises to identify and remove loose debris that could become a dangerous missile in high winds. Don't be caught off guard by a hurricane, severe weather, or natural disaster. Protect your employees, customers, and business investment by taking steps now to be prepared for a future emergency.

download a hurricane action plan

 
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800-528-1056
www.minico.com

customercare@minico.com

10851 N. Black Canyon Highway, Suite 200
Phoenix, AZ 85029
California License # 0H04984

© 2019 MiniCo Insurance Agency, LLC.
All rights reserved.

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