This service is offered by our partners at Caunce O’Hara Insurance Brokers Limited. To find out more please visit www.cohibl.com or call 0161 833 2100.
By using a risk assessment strategy and setting up a steering committee to draw up emergency and recovery plans, the potentially catastrophic effects of a serious loss such as a large fire, can be mitigated.
If the business is unable to trade for a prolonged period, the consequences can include;
Resumption of trading as quickly as possible is therefore vital. Especially considering that 65% of single site businesses fail following a serious fire and 70% of businesses have no Business Continuity Plan (BCP) in place in the event of such an event.
A survey by BIBA (British Insurance Broker’s Association) indicated that 96% of respondents with understanding of BCP felt that having a plan would keep businesses trading or reduce costs incurred when the business may have otherwise failed.
Insurers are increasingly looking to BCP to mitigate loss and 83% of insurers would allow a discount or improved terms if a Business Continuity Plan is in place.
We find that business continuity planning is increasingly used as a measure of competent business management and there is much work to be done in the SME market.
Small businesses appear to be most at risk from the effects of a major disruption, usually water or fire related, so BCP is key in protecting such businesses.
Caunce O’Hara can provide a bespoke Business Continuity Plan following a risk management audit, or simply advise your team if your company is at risk through a lack of planning. Our dedicated risk management surveyor can lead and advise in this very important area.
Please contact firstname.lastname@example.org to discuss your requirements and request a highly competitive quotation.
Protects against claims of alleged negligence in your professional services, advice and designs.
A legal requirement for anyone employing staff. Protects your business in-case an employee is injured at work.
Protects your assets in the event of a claim. You may be held personally responsible for your business action and will have unlimited personal liability.