Old Greenwich, Conn. - Insurance carriers recognize the need for a business continuity plan, according to a recent survey, but much work still needs to be done in the area of disaster recovery to be completely prepared. Last year's hurricane season, the September 11 terrorist attacks, and the concern over the avian flu have changed the way businesses operate, and the insurance industry is no exception, reports IVANS, the Old Greenwich, Conn., networking solutions provider that conducted the survey.Keeping your business operation up and running after a catastrophic disaster depends heavily on being able to access company data and resources. According to the IVANS survey, which was conducted in May 2006 during the ACORD/LOMA conference in Las Vegas, NV., more than 82% of insurance carriers have business continuity plans in place. However, only 25% include natural disasters; 19%, acts of terrorism; 20%, cyber terrorism; and less than 15% take into account biological/public emergencies.

"Prior to recent disasters, carriers were not prepared for their buildings to be inaccessible for weeks or for employees to be unable to reach their offices, so the approach to business continuity planning is shifting," said Clare DeNicola, president of IVANS. "To be fully prepared, companies need to assess their network infrastructure and develop a disaster recovery solution/business continuity plan that includes redundant and reliable Internet connections, and ensures all corporate locations are connected 24/7."

With more and more insurance companies supporting remote workers and branch offices, a sound business continuity plan that includes a comprehensive remote access strategy -- giving employees immediate access to company resources -- is important, added DeNicola.

Source: IVANS

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access