When considering continuity provisions for any business, we look at all the events that could interrupt the income stream of the business and prevent it from delivering its prioritised products and / or services, regardless of whether they can be insured or not.
Those that can be insured are and provision is made, but active plans will also exist for continuation after those events, along with all those things you can’t insure, including supply chain, competition, commercial risks, staff problems, contractual and legal issues to name but a few.
Of course, a comprehensive insurance programme is required, and is one of the core elements of any risk management or continuity provision.
Its three main considerations will always be:
- Damage to Valuable Property / Assets
- Loss of Profits following physical loss or damage
- Legal & Financial Liabilities
There are of course many other insurable risks, and a qualified professional adviser will always look at the exposures in your business and design a programme to cover all of the potential insurable threats that have financial consequences for it.
If you want to discuss your exposures and how they can be mitigated, under a variety of different circumstances, please feel free to contact me directly, on 029 20470 375 or email firstname.lastname@example.org
Always happy to have a completely obligation free chat to discuss Continuity, Insurance or Risk Management.
After all #accidentshappen to nice people all the time.
Have a great day!