Search CompleteMarkets

...effen CHARTERED PROPERTY AND CASUALTY UNDERWRITER (CPCU) Behind the Progr...Letter, has links to interviews with program directors, conversations with students and instructors, and additional program information.

...isruption events (e.g., property/casualty, business interruption, extra expens...he next assignment. Rather, BCP is a program by which management designs, deve...

... an on-going financial burden. Magnitude III (Maximum severity) The Magnitude III loss is one in which the actual survival of the organization is at stake. For example: major earthquake or catastrophic accident affecting the facilities, operation or staff. Such disasters could result in casualties, destruction of property as well as the loss of computer and communications facilities and critically important records. Magnitude III losses would be beyond the point of recovery for the typical organization. Fortunately, the chances of a Magnitude III loss occurring are remote. 4.5 Magnitude ... , workplace violence, product contamination, death and torts. Less traditional, but potentially severe exposures, include kidnap, embezzlement, theft, disability, appropriation of assets (foreign or domestic), product extortion or product recall. Some organizations have not survived the adverse publicity following a serious product liability loss and/or recall situation. 5.2 Unique Loss Vulnerability Identification Even more important than the mere potential of crises is the unique exposure vulnerability susceptibility which adversely impacts and influences loss magnitude. Frequently the quickest and most simple way to identify ... Identification of various trending' factors which are applicable in determining total crises loss considerations and include such factors as inflation, changes in laws, increased seasonal or business cyclical activity, technological advances, market fluctuations and socio-economic considerations Impact Identifies the risk bearing capability of a particular entity A key impact consideration is proper loss vulnerability identification of unusual exposures such as unique resource material, limited supply of custom built parts, extended duration of supply time, single distribution center susceptibility to loss situations, critical timing due to seasonal operations and/or political ...

... , responding to, and recovering from business disruptions-large or small. BCP, allows for the continuous processing of critical business functions in the event of a company or area-wide disruption. While a significant level of risk relating to business disruption events (e.g., property/casualty, business interruption, extra expense, etc.) can be transferred to insurance carriers, in many cases this is not enough to ensure the survivability, or long-term growth and profitability of a business attempting to respond and recover from a disruption. Therefore, BCP ... , resulting from disruption is experienced in various forms, most noticeably financial losses such as lost revenues, increased expenses, penalties, and costly repairs. However, in many instances, a business disruption leads to significant intangible losses such as reduced customer satisfaction and confidence, public embarrassment to the company, or loss of competitive edge. History has clearly demonstrated that in the customer service' era of the 90s, customers who are lost due to a degradation of service levels generally never return. BUSINESS SOLUTIONS The solution designed to prevent and ... develops a plan' and moves on to the next assignment. Rather, BCP is a program by which management designs, develops, implements, and maintains a strong commitment towards business continuity at all levels of the organization. This concept applies to large, complex business entities as well as to five employee enterprises, for every business relies upon some critical functions and supporting tools to deliver its service or product. Without the use of these functions/tools, the business would likely be affected. LGA believes that BCP should be considered ...