If you’re an insurance executive, you know that unexpected events can happen at any time. That’s why it’s important to be prepared for anything, including service outages like the one that occurred in Kalamazoo, Michigan on Thursday afternoon. According to a report by News Channel 3, many Verizon Wireless users in the area experienced major service issues with data, voice, text, and wireless home internet services.

Verizon Wireless reported the issue on their website and estimated that services would be restored within 12 to 24 hours. However, this outage serves as a reminder that unexpected events can happen at any time and can have a significant impact on businesses and individuals alike.

As an insurance executive, it’s important to consider the potential consequences of service outages like this one. For example, if a business relies on wireless internet services to operate, an outage could result in lost productivity and revenue. Additionally, if individuals are unable to access emergency services like 911 during an outage, it could have serious consequences.

To help you prepare for unexpected events like this, we’ve put together a list of common statements and what to do instead:

1. “It won’t happen to us.” - Don’t take chances with your business or clients. Be prepared for unexpected events by having a plan in place and considering parametric insurance options.

2. “We’ll deal with it when it happens.” - It’s important to have a plan in place before an unexpected event occurs. This will help you respond quickly and effectively, minimizing the impact on your business or clients.

3. “We don’t need insurance for service outages.” - While traditional insurance policies may not cover service outages, parametric insurance can provide coverage for specific events like this one. Consider working with Riskwolf to develop a parametric insurance plan that meets your needs.

4. “We’ll just wait for services to be restored.” - While it’s important to wait for services to be restored, it’s also important to have a backup plan in place. Consider alternative methods of communication and access to emergency services during an outage.

By considering these statements and taking action, you can better prepare for unexpected events like the Verizon Wireless outage in Kalamazoo. Don’t wait until it’s too late - take action now to protect your business and clients.

In conclusion, unexpected events like service outages can have a significant impact on businesses and individuals. As an insurance executive, it’s important to be prepared for anything and consider all options, including parametric insurance. With Riskwolf, you can turn real-time data into insurance and build and operate parametric insurance at scale. Don’t wait until it’s too late - get in touch with Riskwolf today to learn more.

Source: News Channel 3