Business Chief Europe Magazine October 2016 | Page 32

LIST
3 . Having a ‘ plan B ’ in place for when the unavoidable does happen Sometimes , it can be difficult to avoid disruption from large-scale weather related events , such as typhoons , hurricanes and tsunamis . When an unavoidable loss does occur ( be it directly or through disruption of one of your key suppliers ) every minute is precious , and businesses need to be able to get back on their feet as quickly as possible . A quick response can help minimise the consequences . To successfully accomplish this , companies must have two measures in place before the disruption occurs . The first is a business continuity plan . The second is an insurance programme with ample and stable capacity that can reimburse a company for operational and financial losses directly attributable to an interruption of business activities .
32 October 2016