Risk & Business Magazine General Insurance Service Spring 2021 - Page 26

CONTINUITY PLANNING

THE IMPORTANCE OF

Business Continuity Planning

COVID-19 taught us the value of having a plan in place when life hits us with the unexpected . Whether or not that was the case for your business , now is the perfect time to reflect on what worked for your team throughout the pandemic , what didn ’ t , and how you can improve the next time you find yourselves in a sticky situation .

A business continuity plan ensures that the necessary steps are taken to anticipate the impact of potential losses , maintain viable recovery strategies , and oversee the stability of operations . This can be achieved through training and education programs for staff , testing of emergency plans , and examining actual operational response during and after an emergency .
There are several key elements in a business continuity plan , including communication , life safety , property
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