When you own a business, keeping your vital records protected in case of loss through a disaster or peril is as important as ensuring you have adequate business insurance in place for financial protection. Business records are extremely important for many businesses to operate. If records are lost in a disaster and copies and backups have not been kept, it could create the potential to close the enterprise.
Depending on the business type, vital records may include:
• Financial reports.
• Payroll records.
• Client data.
• Plans and blueprints.
• Insurance records.
• Legal files.
• Records of production.
• Sales reports.
• Purchase records.
• Bank account records.
• Manufacturing processes.
• Quality control documents.
These days, many if not most records are kept in computer storage. However, with computers being vulnerable to viruses and data corruption, daily backups are essential. Backups should be stored outside the premises, either online or on disc. In addition, valuable documents should be kept in a safe and copies kept offsite.
When running a business, consider whether a record is vital to the enterprise and if so, ensure copies are always kept. More information can be found at the “Open for Business” section of the IBHS. To find out more about business insurance, contact one of our Illinois agents.
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