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One client recently obtained a $500 Million dollar increase in insurance coverage with zero increase in premium costs. This was done based on the Business Continuity Plans and Program developed after meeting with the insurance providers and providing details of the program and progress made. Location of shelter in place.
An added benefit to a more resilient organization will be lower insurance rates These are just a few examples. Insurance companies assess risks to determine the insurance premiums they will charge. It should be introduced early on in the new business function, process or new service planning discussions.
Client or customer demands – depending on the type of services an organization provides to its clients, it may be mandated to implement business continuity and IT disaster recovery plans. Businessinsurance needs – some business interruption policies are requiring organizations to implement business continuity programs.
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