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The Association of Business Recovery Professionals pointed out that although many firms are aware of the risks to their business, they imagine they are "indestructible".
Nick O'Reilly, vice-president of the business turnaround specialists, emphasised that 80 per cent of businesses without a tested recovery plan are forced to close within 12 months of a fire or flood, while 43 per cent of companies that have experienced a disaster never recover fully.
"I don't think that risks are taken seriously enough," confirmed Mr O'Reilly.
"It takes a disaster or a major catastrophe for people to realise the inadequacy of their thought processes in terms of a recovery plan," he added, outlining his organisation's aim for offices hit by disaster on a Friday to be "up and running again on the following Monday".
"But I'm not sure that everybody takes it that seriously," Mr O'Neill concluded.
Data from Disaster Recovery Solutions showed that 58 per cent of UK organisations were disrupted by the September 11th attacks in the US, with one in eight severely affected.
Quantum Risk Management is a leading Health and Safety Consultant
Business insurance and disaster recovery: Firms are not 'indestructible'
It can take a disaster or a major catastrophe for many new organisations to realise the importance of business insurance and recovery plans, according to experts.The Association of Business Recovery Professionals pointed out that although many firms are aware of the risks to their business, they imagine they are "indestructible".
Nick O'Reilly, vice-president of the business turnaround specialists, emphasised that 80 per cent of businesses without a tested recovery plan are forced to close within 12 months of a fire or flood, while 43 per cent of companies that have experienced a disaster never recover fully.
"I don't think that risks are taken seriously enough," confirmed Mr O'Reilly.
"It takes a disaster or a major catastrophe for people to realise the inadequacy of their thought processes in terms of a recovery plan," he added, outlining his organisation's aim for offices hit by disaster on a Friday to be "up and running again on the following Monday".
"But I'm not sure that everybody takes it that seriously," Mr O'Neill concluded.
Data from Disaster Recovery Solutions showed that 58 per cent of UK organisations were disrupted by the September 11th attacks in the US, with one in eight severely affected.
Quantum Risk Management is a leading Health and Safety Consultant
Posted on 08/11/2007
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