TEMPORARY BUSINESS CLOSURES: HOW RESILIENT ARE YOU
In light of the recent power outages in both Auckland Central and Christchurch, we thought the following information may be of interest:
Business interruption cover
Now is a good time to check your insurance policy to find out if you have business interruption cover and what this includes for your business.
Contact your Insurance provider for detailed information on what you are covered for.
Requirement to pay staff
If as a result of a power outage or similar occurrence, you have to close your store you may find it useful to check your requirements to pay staff for the time the store was closed.
If your employment agreements include a 'force majeure' clause, an employer is entitled to withhold payment for the time the business is closed because of the event.
Need Some Help?
Visit the resilient business website at www.resilientbusiness.co.nz for tips on business continuity planning, and get prepared for the unexpected.