Remove BCM Remove BCP Remove Insurance
article thumbnail

CrowdStrike: Lessons on the Importance of Contracts, Insurance and Business Continuity

IT Governance BC

According to Parametrix , an insurance company specialising in Cloud outages, cyber insurance policies likely cover up to 10–20% of losses only. Having a business continuity plan [BCP] is invaluable, but you can’t foresee every type of event. Then there’s insurance. of its share price. And if so, how? It’s tricky.

article thumbnail

Top reasons why Business Continuity Planning is ignored!

Stratogrid Advisory

To make matters worse, even those organizations’ that implement Business Continuity Plans (BCP) are not necessarily protecting their entire organization. Listed below are some of the most common justifications for not implementing a robust Business Continuity Management (BCM) Program : 1. We have business interruption insurance.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Business Continuity Planning for Small & Medium-Sized Organizations

Stratogrid Advisory

In the “ An Introduction to Business Continuity Planning ” article, we outlined the main components of the Business Continuity Management (BCM) Program and introduced the basics of Business Continuity Planning (BCP). non-profits, law or accounting firms, insurance firms/brokers, professional service firms, architecture firms, etc.)

article thumbnail

Business Continuity Planning for Small & Medium-Sized Organizations

Stratogrid Advisory

In the “ An Introduction to Business Continuity Planning ” article, we outlined the main components of the Business Continuity Management (BCM) Program and introduced the basics of Business Continuity Planning (BCP). . non-profits, law or accounting firms, insurance firms/brokers, professional service firms, architecture firms, etc.)

article thumbnail

Risk Assessment – Is it worth the time and effort?

Stratogrid Advisory

Insurance companies assess risks to determine the insurance premiums they will charge. Unsurprisingly, a Risk Assessment is one of the most important components of Business Continuity Planning (BCP). Outside of BCP, Risk Assessment can also enhance your organization’s strategic decision-making abilities.

article thumbnail

Risk Assessment – Is it worth the time and effort?

Stratogrid Advisory

Insurance companies assess risks to determine the insurance premiums they will charge. Unsurprisingly, a Risk Assessment is one of the most important components of Business Continuity Planning (BCP). Outside of BCP, Risk Assessment can also enhance your organization’s strategic decision-making abilities. 18 Articles.

article thumbnail

Business Continuity Guide for Smaller Organizations

Stratogrid Advisory

Once implemented, a Business Continuity Management (BCM) Program will support your organization's value statement and its mission. The implementation of a Business Continuity Management (BCM) Program can be a complicated and lengthy process, which directly depends on the organization's size and complexity.