Break glass in emergency!
Interruptions and disasters only happen to someone else, right? It’s a view more common than you might think. The ‘outage’ – the dry term for the balloon going up – that hampers or stops your business will put you at an immediate and potentially crippling disadvantage.
Whether caused by fire, flood, subsidence, IT failure or crime, unexpected disasters can turn your business upside down in an instant. Water damage becomes a particular risk during summer storms. As with a serious physical injury, many businesses never entirely recover from such an event. Loyalty and sympathy only go so far before you face losing orders, contracts, profits, people and jobs or worse. Estimates vary depending on where you look - but survey data quoted by organisations ranging from KPMG to AXA Insurance put the frequency of companies failing within two years of a major incident at between 40 and 80 per cent.
To read the full report from our partner Arthur J Gallagher click here on the picture above.
Post date: 22 Sep 2015
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