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Disaster Prep: Business continuity management

May 23, 2024

In this installment of Disaster Prep, we focus on how to mitigate potential business losses due to human error, criminal activity or natural disasters such as hurricanes, floods and tornadoes.
Casualty|Property Risk and Insurance Solutions
Disaster Response Center

Disasters can occur from natural causes, human error or criminal activity, and virtually every company, no matter its size, has a genuine exposure to catastrophe. The key is to be prepared: Both a business continuity plan and a disaster recovery strategy – which detail immediate, effective actions to be taken should disaster strike – should be in place well before an incident occurs. Whatever the threat to company assets, a current, detailed and flexible plan will enable your organization to survive – and thrive. Business continuity describes a management process that identifies risk, threats and vulnerabilities that could impact an entity’s continued operations, and documents a framework for building organizational resilience and the capability for an effective response.

Why have a plan?

Many organizations that operate today are no longer truly “independent.” In many cases, processes are very interdependent and complex, with many players involved. Due to these interdependencies, adverse reactions resulting in loss at one location or department, or even a third-party supplier, can quickly escalate with far more significant consequences for the overall company.

Organizations today run at such high output of products and services, and with a minimal number of personnel, that most any type of loss can have large, negative consequences affecting competitive positioning. Companies have been strongly trending toward reducing processes to their simplest elements without any redundancies. While this might make sense for the bottom line, it can also leave a company particularly vulnerable in times of crisis. That’s why you need a plan should disaster strike.

Download our business continuity guide at the top or bottom of this page for more information including:

  • Key components of an effective plan
  • An eight step process for creating a plan
  • Key roles and responsibilities
Title File Type File Size
Business continuity management PDF .3 MB
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