Causes for business interruption to business

RiskCentric a UK based research house and risk management consultancy carry out a survey of businesses as to the cause of disruption to their businesses. They have just published their latest survey results for the period August 2011 to 1 March 2012. Refer www.riskcentric.co.uk.

The stastics here while a good guide to reality they are limited by the fact that only those companies that responded to the survey.

They also published the cumulative results of all their surveys todate and with the passage of time more credibility can be given to these results than a one off survey.

In Australia and New Zealand the results would be secured over the past 2 years by the large number of weather events in both countries (hail, flood, cyclone and tornados in Australia, tornado and snow storms in New Zealand) and earthquake in the south island of New Zealand.

The results are a timely reminder of the need for every business to have a business continuity management plan supported by business interruption insurance.

After 40 years in insurance, these are two areas of great interest to me. So much so I developed a specialist website on each subject to assist business owners and their insurance advisers. They are www.bicalculator.com and www.continuitycoach.com. If you have not visited the sites you are invited to do so to learn more.

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