The world is unpredictable these days, where an earthquake tremor was reported in Penang yesterday. As many people were alerted to the stress call of a disaster, we thought it would be a needed feature to share 3 top important actions that entrepreneurs and businesses should take to save their business operations, documentations and companies during a natural disaster such as flood, earthquake and tsunami. Prevention is better than cure, and we are sharing to help.
The World is Becoming Unpredictable with Unforeseen Natural Disasters
We always like to believe catastrophic events that occur around the region were non-threatening events to our industry. But with 2/3 of Bangkok submerged under water for more than a month such understanding is merely a misconception; we can expect the same to happen in Klang Valley as well (they don’t call it a “Muddy Valley” for no obvious reason if you think about Kuala Lumpur as such….).
As most major industrial estates in Thailand were hit by flooding resulting in more than a month-long halt in production, it is imminent Malaysian companies would be affected by the dwindling supplies as most were dependant on Thailand for their major components; especially where motor-vehicles and computers assemblers in Malaysia are concerned. Major vehicles manufacturers in Malaysia are likely affected as the dip in the supply of important vehicle components would mean a total halt in production. Unless these Malaysian companies are able to source for alternative supplies soon, their business would be affected, which means a business interruption claim would be triggered.Source: Malaysia Insurance.info
Action 1: Are you using Cloud Computing for Your Business Data Backup?
The Nikkei reported that the Japanese non-life insurance industry would made a loss estimate of 1 trillion yen (approx. 12.5 billion USD) for the total insured loss from the series of earthquake and tsunami. The impact seems to be so huge, and the market is a bit concerned aboutthe solvency of the Japanese insurers and re-insurers in abroad. Indeed, the stock price of major Japanese non-life insurers, fell sharply right after the earthquake occurred.Source: Malaysia Insurance.info
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We believe at a time of uncertainty, we would like to offer these suggestions to all businesses and entrepreneurs out there, especially with the incidents of Tsunami, Earthquakes and Floods being frequent natural disasters in the Asian region these days. We offer our prayers and best hopes for those affected by these disasters and pray for a speedy and strong recovery. However, for those of us who are luckier this time, its best that we prepare ourselves to face such a change in our environments today.
Questions, issues or concerns? I'd love to help you!