Fire. Flood. Windstorm.
Catastrophe can strike your business at any time. For example, on October 2012, Superstorm Sandy devastated Manhattan-based ROM Reinsurance (ROM), causing a power outage that left employees unable to access key client information. Fortunately, the company stayed running, thanks to a business continuity plan that protected this data offsite.
These planning guidelines from ROM President and CEO Marianne Petrillo can help keep you in business after a disaster:
- Go paperless. Whether you’re preparing for a natural disaster or an unforeseen facility calamity (think broken water pipe), keeping essential information on paper is antiquated, risky, and inefficient. Says Petrillo, “Eliminating all physical files allowed us to reduce our risk and help our employees work more efficiently.”
- Go to “the cloud.” More and more businesses are moving their data on remote servers in the Internet cloud – an approach that eliminates the risk of on-site storage, reduces costs, and provides real-time access. According to Petrillo, using the cloud enabled ROM to operate at about 85% efficiency during the turbulent aftermath of the disaster, processing claims in a timely manner and getting payments out before year end.
- Go to the right IT vendor. Choose a provider that provides a comprehensive plan for protecting your data and with whom you feel comfortable. “The support we received during this stressful time was outstanding.” says Petrillo. “Our provider’s team stepped up to the plate on short notice and worked diligently to make sure we could access our data to restart business.”
The bottom line: Every business needs a business continuity plan. Our risk management specialists stand ready to review yours, free of charge, at any time. Just give us a call.