Beverley Shirley, Contributor 
Structural damage as a result of Hurricane Ivan in Spetember 2004. - Ian Allen/Staff Photographer
WHEN IT comes to hurricanes, the mantra in the insurance business is ' Be prepared!' So, we caution our clients when the season starts on June 1, and remind them of the potential for damage. Economic loss after Hurricane Ivan has been estimated at more than US $580 million.
Thankfully, hurricane pre-diction technology gets better every year. New seasonal hurricane forecasts have pre-dicted an active season with severity most similar to the years since 1949 as 1961, 1996, 2001 and importantly 2004, when Ivan hit Jamaica. This period of increased hurricane activity in the Atlantic Basin will likely last another 10-20 years. The average storm prediction for the season is 8.53 hurricanes with 4.47 expected to be at Category 3 strength or higher.
If the Caribbean is to sustain development during the next 10-20 years, it must be prepared for the challenges hurricanes present.
The following steps are part of a hurricane plan every business needs to have:
Create a communication tree. Staff members must be designated information points, while others are messengers or action requests. A list of phone numbers and email addresses of key personnel must be printed and stored in a waterproof file as well as backed up electronically.
Do an asset total before the storm. This information will become vital when and if you have to file a claim. Take photos and print out inventory
summaries. Print out and back-up important documents including full insurance coverage plans, building assets and latest inspection summary.Ensure that fire fighting and safety equipment are functional. Plan to have some kind of security to protect assets during the storm.Develop a strategy for how your company will relate to staff members, vendors, suppliers and the media after a storm.Be sure to inform overseas vendors of your hurricane plan. Some may not even be aware that the island is under hurricane warning. Make arrangements for late payments with suppliers just in case the need arises after the storm. Print and backup payroll, payables and receivables and other essential records.Have a plan for emergency power. It is useless to back up information if you don't have a power supply. Ensure that you have a way to power your generator. A list of suppliers, in close proximity to the company, from which emergency supplies can be sourced should be printed and stored.Develop a business continuity plan. A business that quickly reopens after a storm sends the message to clients that it is well organised and equipped to handle needs, boosting business long after competitors have reopened. Still, only reopen when it is safe to do so- carelessness can cause accidents and bad publicity.Remember that the success of a business is built on its employees. After a hurricane many may have damage sustained to their own properties and find it difficult to return to work. Companies can provide assistance to employees by housing children in a day-care during the days after a storm when schools have yet to reopen or by providing lunches as many will find it difficult to cook at home without power.
It is important to create a business plan and even more so to test it. Failures within a plan developed can be quickly and easily remedied before a hurricane- it can be impossible to do so during and after the storm.
Beverley Shirley is General Manager of CGM Brokers Jamaica Limited
