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Business Interruption is a Huge Challenge Many Businesses Still Overlook

On April 27th, Nathan Normoyle was interviewed by Bethan Moorcraft  for Insurance Business Magazine

Here is her article:

The first things that spring to mind when commercial organisations think flood are: damage and destruction. They don’t necessarily think about the possible flow of ongoing disruption, displaced staff and supply chain woes.

When flood strikes, business interruption losses can quite literally come raining down. Getting back up and running is hard because of the mass inundation of water, which is why the expertise of restoration companies like Access Restoration Services (ARS) are so vital.  

“The number one challenge for commercial clients after a loss event like a flood is normally business interruption, which unfortunately is a topic that’s overlooked by many,” said Nathan Normoyle, vice president of National Operations at ARS Canada.

“Large commercial organizations might have 500-1,000 employees in one location,” he added. “If the whole workforce or a majority of staff are misplaced because of a flood event, or unable to work under their normal conditions, it creates a huge logistical challenge for business continuity. Business interruption losses can cost the company and the insurer multiples of what the actual physical damage to the property might cost.”

In January, business interruption was flagged up as by far the most significant concern among risk managers in Canada, according to the Allianz Risk Barometer 2018. Experts partly attribute this to the fact that post-loss restoration operations (from fire, flood, windstorm etc.) are becoming more and more challenging. 

Insurers, claims adjusters and post-loss restorers are coming up against new things like highly technical machines, complex supply chains, and even environmentally-friendly building products that can be difficult to repair after a loss.  That’s where the management skills and technical expertise of restoration companies really take centre stage.

“At ARS, we manage the business interruption process for our clients and customers,” Normoyle told Insurance Business. “When we visit an impacted property, we assess three key things: the extent of the damage, whether damage can be contained and commercial operations can continue, and the most rational step to avoid business interruption and minimize cost to both the business and the insurance company.  

“We will do everything in our power to keep a company operating. That might include shutting off a damaged area and moving operations to another section. If a site is completely demolished or critically damaged making it impossible and unsafe to maintain business operations, we will suggest alternatives and even construct temporary facilities on or off-site to get commercial organizations back up and running as quickly as possible.”

Credit https://www.insurancebusinessmag.com/ca/news/flood/business-interruption-a-huge-challenge-many-businesses-still-overlook-99117.aspx

ARS Workday

Setting the Pace in the First 90 minutes

Say “Hi” Your Co-workers and Staff

Managing a team or a team member?  Give yourself a few minutes each morning to chat your team.  This goes a long way to create a positive workflow environment. Get everyone smiling and connecting briefly. Morning hellos also give you an opportunity to discuss what others are working on for the day. Sharing your goals for the day.  This will also encourage others to achieve theirs. Don’t spend too much time at the water cooler, but a quick walk around the office to say hello to the team can set the tone and pace for the rest of the day.

Look After Your To-Do List

Get into the routine of noting the most critical tasks in your job and manage that list daily.  So before you tackle today’s schedule, make sure to complete the previous day’s schedule.  Situations will arise throughout the day that sometimes takes more time to finish. Don’t give up!  If you don’t get it all done, you can use this to ask for more time or assistance if necessary. Knowing when you need help is just as important as completing your tasks. Managing a proper list every morning can help you stay on top of everything and keep you from falling behind.

Knowing When You Work Best

Your peak performance hours of the day may vary as everyone is different, but knowing when you do your best work is vital. Make the client phone calls during your peak morning hours, when you know your energy level is higher. If you’re responsible for one priority task each day, schedule yourself time to complete that task first thing during your peak.
 
We all know how the day tends to go if you oversleep or get to work late. You feel rushed and sometimes flustered. Maybe you forgot your coffee or skipped breakfast. These types of mornings tend to affect the rest of your day. Knowing that you have the control to set up your morning routine for a more productive day is critical. Establishing a morning routine, with specific tasks for managing your first 90 minutes, can significantly impact your effectiveness as well as inspire the productivity of those around you.