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Volume 32, Issue 3

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Thursday, 22 November 2007 03:33

Partnerships Help Ease Tough Times

Written by  Jim Willis

Insurance companies spend an increasing amount of time helping companies reduce potential business interruption. The reason: it’s a win-win strategy for all parties involved. At least 50 percent of the money commercial insurance companies take in from business interruption claims is actually paid back out to clients. The faster you mitigate a loss, the faster the insurance file is closed. This translates into reduced costs for the insurer and the insured, and reduced company “downtime.” There’s no time to get your ducks in a row once the disaster has already wreaked havoc on your business. While business continuity planning is a top corporate priority today, many disaster recovery planners fail to realize the ideal plan calls for more than just IT/data backup. Without a plan in place to restore the actual facility/office, business may not be able to continue. Effective business continuity plans reflect collaborative partnerships between a company and each of