Marine Fabricator September/October 2019 - 27

"To survive a disaster, you need to
have adequate insurance. This sounds
like common sense, but in the real
world it does not always work out that
way. Your agents may be sincere, and
you may have a long-term relationship
with them, but they don't always sell
you what you need. In my case, they
undervalued inventory in order to
present a more affordable premium;
that led to problems getting enough
money back to cover the lost inventory.
There is much more to your business
than inventory.
"Know what you have-not just
inventory and finished products going
out, but the value of your IT, office
equipment, anything you can put a
number on. Have photographs and
purchase information to back up
your claim.
"After the disaster, hire someone with
experience to handle your insurance
claim. Once your company is damaged,
expect trouble at every turn. In my case,
after moving to temporary quarters, the
insurance company tried to end our
business interruption coverage, even
though the temporary location was not
sufficient for our needs.
"Beyond insurance, you need adequate personal and business financial

resources to carry you through the
storm. Insurance payments will be few
and far between while you and your adjuster argue with the carrier about what
is covered by the policy.
"Even though you are competitive,
you need to be friendly and supportive
with your competition. To survive you
need allies who can help you get your
product out. In short, you need to create a collegial environment in which
everyone in the business cares for each
other. Your competitors need to understand that your survival is in their
best interests.
"Be prepared for mood swings. No
matter how well prepared, you will
feel down and out, miserable, and like
you have no funds no matter what
your resources are. Money just flies out
the door.
"Always bear down and press ahead.
To the outside world, you must present
a normal picture of business as usual.
You need to continue selling products
as if nothing has changed. If anyone
suspects you are in trouble, you will be in
trouble.You will lose everything. In order
to survive, you and your employees need
product to go out and money to flow in.
"Remember, you are going to get
through the crisis. Nothing lasts forever."

Shop considerations:

Technology:

* When you plan your shop layout,
know what type of situations could

* Protect office computers and
backup files.

affect your investment. This includes

* Protect customer files.

flooding, fire, wind, rain, trees, billboards,

* Ensure you have access to your cell

signage or other nearby projectiles.
* Are your tables/storage areas
constructed so that flooding doesn't

Jeff Kleger, president of Jefco K. Inc.
in Philadelphia, Pa., saw his awning
business severely damaged by ﬁre in
2008. After such a disaster, it's important
to "bear down and press ahead," says
Kleger. Photo: Leonard Neal Friedman.

Miscellaneous:
* Are vehicles filled with gas?
Are they in a safe place to park?
* Do you have cash? What if banks
and ATMs are unavailable?

phones and chargers. What will you

* Do you have an emergency

do if you have no signal or internet?

kit with batteries, flashlights
(headlamps, especially), and a radio?

ruin materials and machinery? Are
they easily protected or removable
if necessary?
* Can doors and windows be secured
with wood, sandbags or foam?

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Marine Fabricator September/October 2019

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