Recovering service.
Despite the high chances of experiencing a disaster, the majority of businesses have no contingency plans at all and of those that do many are totally inadequate. Roger Thrift explains some factors to consider and improvements to make in this area of the insurance sector.
The recent fuel crisis was a classic example of how organisations canbe brought to the brink of disaster by developments that are out of their
control. Every year, companies are faced with disasters that could have a
profoundly detrimental effect on their operations and could even lead to
their failure. Despite this, many continue to ignore the importance of
assessing the many risks they face and, therefore, have inadequate
contingency plans and insurance.
One in five medium sized businesses can
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