BUSINESS CONTINUITY
flow going. It also assists with marketing
after your loss, keeping the bills paid,
paying some repairs, and resuming critical
operations. It is important to recognise,
however, that insurance is a reactive tool
which needs to be reviewed regularly with
your broker to identify new trends and
potential gaps in coverage as well as ensure
that you maintain adequate limits. While
a proper insurance program is important,
it is still only one aspect of your whole
business continuity plan, which should start
with limiting exposures and identifying
inefficiencies in your organization.
By placing a heavy focus on the recovery
aspect of major disruptions to your business,
you will be able to not only protect your
business better but also project a better
image to the public (and your customers
and clients). Open communication with
your insurance broker prior to any claims
or losses is the key to success here. Brokers
are the experts who can help outline what
exposures you may face in your industry. For
a review of your business continuity plan or
to learn more about business interruption
insurance, contact Mark Lee at 604-4844999 or [email protected]. +
BY: MARK LEE,
CMW INSURANCE
Mark Lee is a Client Executive and
Vice President at CMW. He brings over
twenty years of experience developing
and structuring large, complex insurance
and risk management programs for the
manufacturing, construction, municipal,
and transportation sectors. Mark is
a past director of both the Canadian
Manufacturers & Exporters and the
Insurance Brokers Association of British
Columbia. He is also a member of the
Insurance Institute of Canada and the
Global Insurance & Risk Management
Institute.
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Trisura Guarantee Insurance Company is a Canadian owned and operated Property and
Casualty insurance company specializing in niche insurance and surety products. We
are a proud supporter of the Insurance Broker’s Association of Canada.