An organisation’s business continuity and incident management arrangements cannot be considered reliable until exercised and unless their currency is maintained. Exercising is essential to developing teamwork, competence, confidence and knowledge which is vital at the time of the incident . Until proven , it must be assumed that any BCM plan or provision contains flaws that could cause the organisation to suffer unacceptable and possibly catastrophic loss. Exercising is an obvious and necessary means of assuring the integrity of all BCM measures and increases staff, customers, and stakeholders’ confidence in the organisation’s ability to respond.
Your riskChallenge team will support you in practicing BCM in form of varies exercise and building organizational resilience that allows you to effectively respond to incidents and acceptably restore your business.
The review assesses operational preparedness , documentation and recovery capability at the time of assessment and is aligned with current best practice as defined in the BCI Good Practice Guide and ISO 22301 standard for business continuity
The review is delivered in 8 sections, corresponding to key stages in the business continuity management life cycle, namely:
Insurance strategies Reviews
Insurance is one of the most effective tools in reducing the financial consequences of catastrophic events. One of the most important, but often underestimated, is business interruption insurance (BI). Proper design of coverage and its parameters is often a challenge for financial services because pure book values are not enough, and operational knowledge is required supporting financials.
riskChallenge can help an organization, broker or insurer and provide the necessary information to better assess the risk and optimally design insurance cover.
Analyses and activities in the BCM area can support the insurance area: