Business continuity - reacting after a major incident

John Knowlden, Director, KTIB

Have you considered how your business would react following a major incident such as, a fire at your premises, flooding caused by a severe storm, failure of your IT systems or an explosion in an adjoining factory?

Usually these type of incidents will be mitigated by property and business interruption Insurance. But, there are often intangible’s, such as time consuming meetings and media management that cannot be recovered.

By pre planning prior to an incident occuring you can both minimise downtime and reduce intangible costs.

Business Continuity Plan / Incident Management Plan

Effective Incident management planning will reduce the risk of incidents occurring and should one occur will reduce the ‘time-to-recovery’ and thus disruption to customers / exposure to competitors.

In the event of an incident the company will be able to reduce downtime and maintain customer, supplier and employee confidence by showing that they are able to deal with the situation by having contingency plans in place.

Having well organised emergency plans and systems will also make you a better insurance risk and give you more choice.

An effective plan has to be implemented by you and your management team. It is you who will turn to it in the event of a major incident and if everyone knows how to respond the effects of the incident will reduce considerably.

 

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