This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
There are two main types of risk transference: 1) buying insurance and 2) hiring a third-party vendor to perform an activity and passing on to them the risks associated with that activity. The Promise and Pitfalls of InsuranceInsurance is the most frequently used and easiest method of risk transference.
READ TIME: 5 MIN September 16, 2019 There is No Excuse for Ignoring Backup and DisasterRecoveryDisaster strikes when we least expect it, and for the unprepared business, the consequences are dire. For small businesses, business continuity plans and disasterrecovery are an animal unto itself.
A popular alternative is a virtual CIO (vCIO), an outsourced resource of expertise, strategic planning, and leadership who works on a part-time or as-needed basis. investing in disasterrecovery solutions to prevent business-crushing data loss). Not sure if a vCIO is right for your business?
This role could be an in-house team, outsourced, or hybrid. If outsourced or hybrid, a designated employee should act as a liaison. Legal experts help you understand the legal obligations, potential conflicts, and liabilities of your business, and can provide input when drafting policies and procedures. Information Security (InfoSec).
We have business interruption insurance. The business interruption insurance will cover actual business loses and expenses associated with the restoration of business services. What business interruption insurance will NOT cover is the loss of your clients, overall market share, or any project related delays associated costs.
They include: Process and procedural robustness and integrity People, skills and training Insurance and self-insurance The supply chain, outsourcing, and inherited risk Infrastructure, systems and telecommunications Physical and information security Operational risk is recognized as being distinct from market risk and credit or trade risks.
Technology firms that do business in the supply chain ecosystem of highly regulated entities must respond to RFP (request for proposal) requests understanding their back-end IT security, disasterrecovery, compliance, and privacy programs. Ability to Procure Cyber Insurance.
non-profits, law or accounting firms, insurance firms/brokers, professional service firms, architecture firms, etc.) A false sense of security Many of the small and medium-sized organizations are outsourcing some or all of the internal Information Technology infrastructure and applications to third-party organizations (e.g.
non-profits, law or accounting firms, insurance firms/brokers, professional service firms, architecture firms, etc.) Many of the small and medium-sized organizations are outsourcing some or all of the internal Information Technology infrastructure and applications to third-party organizations (e.g. IT DisasterRecovery.
They include: Process and procedural robustness and integrity People, skills and training Insurance and self-insurance The supply chain, outsourcing, and inherited risk Infrastructure, systems and telecommunications Physical and information security Operational risk is recognized as being distinct from market risk and credit or trade risks.
A popular alternative is a virtual CIO (vCIO), an outsourced resource of expertise, strategic planning, and leadership who works on a part-time or as-needed basis. investing in disasterrecovery solutions to prevent business-crushing data loss). Not sure if a vCIO is right for your business?
They look that way at whole departments, too, and many consultants look at outsourcing a lot of roles that have traditionally been performed in-house. Now Is NOT the Time to Cut Back on BC/DR Business continuity/disasterrecovery (BC/DR) shows up on a company’s balance sheet as an expense.
And that suffering now extends far beyond the potential for Health Insurance Portability and Accountability Act ( HIPAA ) regulatory non-compliance brought on by lost or stolen data; instead, the breaches affect healthcare organizations’ capacity to function and pose a risk to patient safety.
On top of that, these suppliers themselves outsource their material to second-tier suppliers. While it’s clear there is a dire need for more effective data protection, it is also crucial that businesses have disasterrecovery solutions in place should the worst occur.
An added benefit to a more resilient organization will be lower insurance rates These are just a few examples. The main reason to implement a BCM Program is that it will ensure that an organization embraces resiliency as part of its core values.
We organize all of the trending information in your field so you don't have to. Join 25,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content