Petrogram - Fall 2009 - (Page 21)
Insurance ISSUES Preparing for a Pandemic Is Serious Business an you imagine what would happen n at your business ss if 10 percent of f your employees were too ill to come Bo Orr to work on Federated Insurance the same day? Now imagine if 25 percent of them m were absent for three months or more. e. Then imagine all businesses are facing ing these same absentee rates at the same time. As hard as it may be to comprehend, this nd, could happen – in fact, most experts say it’s ts just a matter of time. What’s the reason? An ason? outbreak of pandemic flu that will spread l d rapidly and easily, from person to person, affecting all age groups. It will cause illness in a majority of those infected. Influenza pandemics are not isolated events like hurricanes or tornadoes, nor are they confined to a specific region. Pandemics come in multiple waves, and experts believe many organizations will have difficulty maintaining operations because of absenteeism due to illness or employees caring for the sick. Want More Information? The federal government, states, communities and various industries have taken steps to prepare for and respond to an influenza pandemic. 1. HHS and CDC www.pandemicflu.gov 2. U.S. Chamber of Commerce www.uschamber.com/issues/ index/defense/pandemic_ influenza.htm 3. Open for Business® www.federatedinsurance.com 1 1. 2. 3. 4. Effects on Your Business A pandemic f lu could disrupt your business and perhaps even force it to close down for a time. According to independent research, a flu pandemic has the potential to cause a typical employer’s revenue to drop by 8 percent and profits by 16–17 percent. The research showed even a moderate scenario would reduce a typical employer’s revenue by 2 percent and profit by 3–4 percent. Ten Steps You Can Take Now Here are some things you can do now to help maintain business continuity in the event of a pandemic. Keep in mind that many strategies take time to implement. 5. 6. 7. Check that existing business continuCh k h i i b i i ity contingency plans address longterm absenteeism rates. Identify your essential functions and cross-train employees to perform essential functions to ensure resiliency. Plan for interruptions of essential governmental services, such as sanitation, water, power and transportation, or disruptions to the food supply. Determine which outside activities are critical to maintaining operations and develop alternatives in case they cannot function normally. Update sick leave and family and medical leave policies and communicate with employees about the importance of staying away if they become ill. Establish or expand policies and tools that might enable employees to work from home with appropriate security and network access to applications, such as billing and payroll. Collaborate with insurers, health plans and major health care facilities to share your pandemic contingency plans and to learn about their capabilities and plans. 8. Maintain a healthy work environment with adequate air circulation; tips posted on how to stop the spread of germs at work; hand and respiratory hygiene promotion; and wide and easy availability of alcohol-based hand sanitizer products. 9. Tell your employees about the threat of pandemic flu and the steps you are taking to prepare for it. 10. Establish an emergency communications plan and revise periodically if necessary. ❍ This article is intended to provide general recommendations regarding risk prevention. It is not intended to include all steps or processes necessary to adequately protect you, your business or your customers. You should always consult your personal attorney and insurance professional for advice unique to you and your business. ©2009 Federated Mutual Insurance Company. All rights reserved. Statistics referenced are from www.pandemicplan.gsk.com/ calculator.html and www.uschamber.com/ issues/index/defense/pandemic/10steps. Petrogram | Fall 2009 |
Table of Contents for the Digital Edition of Petrogram - Fall 2009
Petrogram - Fall 2009
Welcome, New Board Members
Spotlight on FPMA’s 2009 Convention & Trade Show!
Protecting Your Business
Impacts of the American Clean Energy and Security Act
Out & About the Industry
SPECIAL REPORT: U.S. Petroleum Industry Statistics
Why (Your Insurance Company Thinks) Your Tank Insurance Policy Is Worthless
Index of Advertisers/Advertiser.com
Petrogram - Fall 2009
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