How Insurance Partners can Support Disaster Preparedness and Recovery
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cross B.C., catastrophic events are occurring with a sobering frequency and intensity due to climate change. As local governments are front and centre in dealing with the effects of the climate emergency, it is important to understand how your insurance and broker partners can support your local government, from planning to building back better. The emergency management framework provides a useful lens to examine the many ways an insurance broker partner can provide crucial support in dealing with catastrophic events. PREVENTION AND MITIGATION Take advantage of all the value-added assistance your broker or insurer provides to improve local government resiliency. These services can include: • Loss control inspections to identify and advise how to mitigate risks; and • Risk management grants or other funding mechanisms to help implement risk-reduction measures. PREPAREDNESS Having a business continuity plan provides a roadmap to allow you to continue your operations, collect revenue, and serve your community when catastrophes strike. Most insurance brokers can provide you with tools and resources to assist you with your business continuity planning. When undertaking your business continuity planning: • Consider both your emergency response plan and your business continuity plan. Together they will allow you to provide stable service to your community and give you a foundation to “build back better”.
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• Involve your insurance broker in your business continuity plan discussions to ensure you have the right level of insurance available to meet your specific needs. Clarify where insurance will respond and where it will not, so you can plan reserves accordingly. RESPONSE As a catastrophic event unfolds, a strong relationship with your insurance broker or insurance provider is extremely helpful. Establishing continuous communication is critical to ensure you receive timely and seamless assistance during the response phase. Your insurance broker may be able to support you throughout the event by: • Contacting you early on to provide timely advice; • Advocating on your behalf by explaining the claims process and, where necessary, looking to maximize coverage available to cover losses; • Providing support and advice to your emergency operations centre staff; and • Reviewing the insurance and indemnity provisions of contracts with other parties to highlight coverage gaps or exposures. RECOVERY The recovery phase can involve a myriad of challenges and frustrations. Delays in the recovery process are extremely common. With a strong insurance partner on your side, you can take advantage of some crucial supports to minimize the financial impacts of delays. These supports might include: • Securing professions, trades and vendors required for the rebuild; • Access to additional insurance coverages required during recovery (such as course of construction or environmental impairment liability insurance);
