Pieces to your plan

To ensure your business survives a significant event, just having a continuity document gathering dust on the shelf or in your head won’t cut it. A good plan needs to be a working strategy and should be interlocked with four key areas of risk and risk management.

What to consider when it comes to making a business continuity plan

The risks are real and the data doesn’t lie. Spend the time and energy to protect the future of your business and investment today by considering these key risk areas. If a major disruption affects your business, you won’t regret the preparation investment.

Significant Business Risk
Businesses need capital and cashflow to operated and grow. While some risks are the price of being in business, a significant number of key risks can be covered by insurance, protecting not only your business capital but your income and livelihood too.

Some key risks are detailed in the linked document below along with good business risk management and the types of insurances policies available to cover or mitigate these very real risks.

Runacres Insurance Key Risks

General Business Risks and insurance policy mitigation
As well as specific incidents, your business is by nature of being in business, exposed to other risks as detailed below which can also be mitigated through various insurance covers.

Risk Insurance Mitigation
Third Party Liability Public Liability & Section 2 under Commercial motor policy
Non ACC injury related claims from employees Employees Liability
Alleged employment agreement breaches from current, former and future employees Employment Disputes cover
Business losses arising from fraudulent or dishonest acts by employees Fidelity/Crime insurance
Alleged third party losses following advice, errors or omissions Professional Indemnity
Claims against business directors for alleged wrongful acts in service of the company Directors and Officers Liability


Importing, Exporting risks Marine Transit
Risk identification, evaluating and ownership
Your business is exposed to Significant Perils every day from both risks you have some control over to those outside your control. It is vital you take the time to identify your exposures before you can start planning to protect and manage the same.

Runacres Insurance Risks identification

Circulate, Distribute, Store
Once you have establish the plan for the various potential risks to your business operation and resources needed. Circulate the various plans and ensure all parties that need have access to these do (even during a critical event), have the opportunity to review and contribute and know where they are located.

Depending on the size and complexity of your business and risk exposures you may look to engage the services of a business advisor or risk advisors in specific areas of your business.

Test, Evolve & Review
  • Run mock incidents to test your plan, employees, management and suppliers.
  • Evolve your plans as your business evolves, include new staff and ensure they are aware
  • Review at least once a year