Business Continuity Planning and Disaster Recovery

INSIGHT BCPLike insurance, Business Continuity Planning (BCP) is one more risk management activity use for events with exposures to catastrophic losses like any unplanned event that can cause death or significant injuries to company employees or the public, or that can shut down business, disrupt operations, cause physical or environmental damage, or can threaten the company’s financial standing or public image. The purpose of the BCP is to identify the critical business functions and develop an approved set of arrangements and procedures to insure that the company can respond to a disaster in a planned and rehearsed manner and resume its operations within a required time frame objective. This is accomplished by ensuring the safety of employees and assets; minimizing economic losses resulting from interruption to business functions; and providing a plan of action for an orderly recovery of business operations.