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Cooke & Mason plc - Business Continuity Planning - June 2010
83% of companies that have a major fire never reopen for business!
94% of businesses cease trading within two years of a major loss!
The internet is full of statistics and reports detailing the poor survival chances of companies that do not have a business continuity plan and suffer a major loss.
One of the best surveys was conducted immediately after the 1993 Bishopsgate bomb in London and revisited again in 2000. It established that, of those companies directly affected by the incident, and who did NOT have contingency plans in place only 8% survived long term. Of the remainder:
40% failed within 18 months.
12% failed within five years.
40% never re-opened.
Whereas the majority of large organisations have invested in Business Continuity (also known as Disaster Recovery Planning) most other companies have not been so keen to embrace the subject for a variety of reasons.
However, we are frequently seeing clients being asked to provide a copy of their Disaster Recovery Plan as a condition of a tender, or in order to secure a position as an “approved” supplier.” With the increased acceptance of BS 25999 we expect many more firms to insist that key trading partners have a Disaster Recovery Plan.
We can now help any client who needs to create (or amend) a Disaster Recovery Plan with FREE OF CHARGE access to specialist software. ROBUST™ is designed to provide tools allowing SME organisations to plan, draft and review their own Disaster Recovery Plan in an easy-to-follow way. The system is entirely flexible to the specific needs of your business and will guide you through the whole process step-by-step.
ROBUST™ is provided by RiscAuthority, one of the leading research groups in the insurance arena and supported by many of the large insurers to promote best practice in risk control.
If you would like more information speak to your usual insurance contact at Cooke & Mason. You can download the software by following the instructions found at www.cookeandmason.com.
