Tips to Help Address the Impact of Unexpected Property Shutdowns

During this unprecedented time, many businesses are beginning to close their doors to the public or shut down entirely. With these rapidly changing conditions, it is more important than ever to consider the potential negative impact to your business and property. Here are some important things you can do to prepare:

• Identify and support employees who are considered critical to ensuring the safety and management of the facility during a shutdown.
• Ensure ongoing maintenance of key equipment to enable a quick restoration of operations following a shutdown.
• Develop a list of services that need to be completed by third parties (e.g., fire protection contractor) who may be restricted from accessing the site during a shutdown. Maintain a list of services that need to be addressed once it is safe to do so.

Idle Properties

The sudden closure of a property presents exposures that may be easily overlooked. Before you leave a property vacant or unoccupied, there are proactive steps you can take:

• Secure external doors and windows and activate your building security system. If one does not exist, and it is possible, consider providing a qualified guard service with recorded rounds.
• Maintain building heating systems to prevent water pipes from freezing or damage to sensitive equipment. Also maintain electrical power if it supports critical equipment.
• Keep the automatic fire protection systems on and in service.
• Notify the police department that the property will be vacant and provide emergency notification phone numbers to the police.

Business Continuity Planning and Supply Chain Management

Changes in business demands and supply chain interruptions may require activating your corporate business continuity plan. If business conditions have slowed, you can take advantage of this time to be proactive and begin planning now for the return to work. Consider how to re-open and rebuild the pipeline for goods and services. Begin to anticipate now how future business demands may change. Read More