Over the past 10 years it seems as if the frequency and severity of storms is on the rise. Being based in the Boston area Super Storm Sandy was the most recent wake-up call to realize that this is a significant business and strategic risk for businesses. It is now apparent that firms need to think about business continuity as many companies were shut down for an extended period of time. Per the attached picture from Chubb Insurance, firms often do not reopen after a significant shut down.
If a catastrophe hit your firm, can you honestly be certain that your firm could be up and running within 24 hours to avoid any significant business interruptions? What about your supply chain management? Would you lose any key employees? What about the opportunity costs lost if the phone system was down for a week?
It is easy to assume that you have a solid business continuity plan, but are you confident that it will be successful in the event of a catastrophe?
Contact Deland, Gibson for help.