In the aftermath of the devastating storm hitting the East coast, Accounting Today highlights seven steps a firm can perform to protect itself in similar situations. Even if your firm is far from coastal areas, the risk of ice, snow, power outages, network viruses, theft, fire and other data loss can mean that a firm needs to prepare for the worst.
The article suggests insurance as one of the seven key parts of a disaster plan. InsureAccountants.com explains that there are a number of types of insurance an accounting firm can purchase that may be important during a disaster:
- Accountant’s Professional Liability Insurance – this protects against errors and omissions made by your staff.
- General Liability Insurance – covers certain legal liabilities the firm may have during the disaster.
- Property Insurance – allows you to rebuild quickly or find a temporary location to conduct business.
- Network Security Insurance – protects against viruses, loss of data, hacking, denial of service attacks.
Contact an experienced broker to make sure your firm is protected for the worst.