{"id":796955,"date":"2024-10-24T08:50:05","date_gmt":"2024-10-24T06:50:05","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=796955"},"modified":"2024-10-24T08:50:09","modified_gmt":"2024-10-24T06:50:09","slug":"unexpected-interruptions-crush-businesses-heres-how-to-protect-your-company","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/industry-news\/796955\/unexpected-interruptions-crush-businesses-heres-how-to-protect-your-company\/","title":{"rendered":"Unexpected interruptions crush businesses \u2013 Here\u2019s how to protect your company"},"content":{"rendered":"\n<p>Business interruptions are one of the biggest threats for companies of all sizes.&nbsp;<\/p>\n\n\n\n<p>While it\u2019s impossible to prepare for every eventuality, taking a little time now to plan can keep your business running smoothly in case of unforeseen disaster.&nbsp;<\/p>\n\n\n\n<p>The key to protecting against business interruption is to develop a robust disaster management plan.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong><a href=\"https:\/\/tihadvisorycontact.tihsa.co.za\/21?utm_source=BusinessTech&amp;utm_medium=Article&amp;utm_term=October+2024\" target=\"_blank\" rel=\"noreferrer noopener\">For advice on developing a robust disaster management plan, click here to contact TIH Advisory.<\/a><\/strong><\/li>\n<\/ul>\n\n\n\n<p>At TIH Advisory, our business insurance specialists can help ensure you are not only adequately covered from an insurance perspective, but also prepared from an operational perspective.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Proactive planning and adaptability is key&nbsp;<\/h2>\n\n\n\n<p>A good disaster management plan isn\u2019t just about insurance.&nbsp;<\/p>\n\n\n\n<p>It\u2019s also about creating strong safety protocols and measures that can stand the test of time.&nbsp;<\/p>\n\n\n\n<p>Here are a couple of ideas to ensure you have a robust plan.<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Business continuity planning (BCP):<\/strong> Outline how your business will continue operating during disruptions. Regularly review and update the plan as your business expands.\u00a0<\/li>\n\n\n\n<li><strong>Risk assessment:<\/strong> Identify vulnerabilities and prioritise potential risks (natural disasters, supply chain disruptions, cyberattacks), based on impact and likelihood.<\/li>\n\n\n\n<li><strong>Supply chain diversification:<\/strong> Build redundancy by maintaining good relationships with multiple vendors.<\/li>\n\n\n\n<li><strong>Remote work capabilities:<\/strong> Plan for remote work with cloud-based tools and secure VPNs.<\/li>\n\n\n\n<li><strong>Data backup and recovery: <\/strong>Regularly back up critical data.<\/li>\n\n\n\n<li><strong>Emergency communication plan:<\/strong> Set up clear communication channels to keep employees, customers, and stakeholders up to speed during disruptions.<\/li>\n\n\n\n<li><strong>Financial reserves:<\/strong> Maintain enough cash reserves to cover operational costs during interruptions.<\/li>\n<\/ol>\n\n\n\n<p><strong><a href=\"https:\/\/tihadvisorycontact.tihsa.co.za\/21?utm_source=BusinessTech&amp;utm_medium=Article&amp;utm_term=October+2024\" target=\"_blank\" rel=\"noreferrer noopener\">For more advice, click here to contact TIH Advisory.\u00a0<\/a><\/strong><\/p>\n\n\n\n<p>We are here to help you protect your business from any angle.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Business Insurance (BI) cover<\/h2>\n\n\n\n<p>The most important way to secure your business is through BI insurance.&nbsp;<\/p>\n\n\n\n<p>It\u2019s designed to protect your business from losing income as a direct result of physical damage to your business property by a covered event as specified in your policy.&nbsp;<\/p>\n\n\n\n<p>We offer free consultations to ensure you have the right coverage in place.&nbsp;<\/p>\n\n\n\n<p>In these consultations, our team can help you understand what is covered and what isn\u2019t, as well as how to adhere to insurance guidelines to prevent unnecessary damage to your property.<\/p>\n\n\n\n<p>BI cover pays for lost income, but only up to the policy limit.&nbsp;<\/p>\n\n\n\n<p>We also help you keep your insurance up-to-date with accurate asset evaluations, so you\u2019re not left underinsured and with a financial shortfall.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">TIH Advisory: Modern financial advice tailored to you<\/h2>\n\n\n\n<p>We understand that each business has unique needs &#8211; especially when it comes to insurance.&nbsp;<\/p>\n\n\n\n<p>In today\u2019s fast-paced environment, many business owners appreciate the convenience of digital insurance platforms,&nbsp;<\/p>\n\n\n\n<p>But for more complex needs, personalised advice from experienced specialists is invaluable.&nbsp;<\/p>\n\n\n\n<p>TIH Advisory comprises a new generation of financial advisors who believe in personalised service and solutions.&nbsp;<\/p>\n\n\n\n<p>Our team of expert advisors is spread across South Africa and works with leading financial brands like Auto&amp;General, Budget Insurance, DialDirect, 1st for Women, and Virseker.&nbsp;<\/p>\n\n\n\n<p>We\u2019ll take the time to understand you before we advise you, making sure we have a complete picture of your financial position, your goals, and the gap between what you have and what you want to have.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/tihadvisorycontact.tihsa.co.za\/21?utm_source=BusinessTech&amp;utm_medium=Article&amp;utm_term=October+2024\" target=\"_blank\" rel=\"noreferrer noopener\">Contact us today to discuss your financial plan and ensure your business is ready for anything.<\/a><\/strong><\/p>\n\n\n\n<p><em>TIH Advisory is powered by the following licensed Insurers and Financial services providers<\/em><br><em>Auto and General Insurance Company Ltd;<\/em><br><em>Budget Insurance Company Ltd:<\/em><br><em>First for Women Insurance Company Ltd:<\/em><br><em>Dialdirect Insurance Company Ltd and<\/em><br><em>1Life Insurance Limited<\/em><\/p>\n\n\n\n<p><em>Terms and conditions online.\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The best way to protect against business interruptions is proactive planning \u2013 and this includes having robust business insurance.<\/p>\n","protected":false},"author":57,"featured_media":796964,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10459],"tags":[20819,20818,20817],"class_list":["post-796955","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-news","tag-business-insurance","tag-telesure","tag-tih-advisory"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/796955","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=796955"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/796955\/revisions"}],"predecessor-version":[{"id":796965,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/796955\/revisions\/796965"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/796964"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=796955"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=796955"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=796955"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}