In some instances, business owners incorporate public liability insurance within their contingency plans for added security. Yes, insurance does cover losses but excludes events such as death, federal violations, and loss of reputation. These misconceptions are what most companies use as excuses for not having a business continuity plan. When it comes to business continuity, there are many common misconceptions. But at what cost? This scenario deprives a community of a relied-upon business, leaving a company unprepared when trying to come up with a plan of navigating the rough waters of post-disaster damage control. Unfortunately, one of the two most popular factors that influence the mindset of companies without a BCDR plan is the experience of a recent disruption. In fact, 52% of businesses experienced a disruptive event(s) in the last five years*, and your company may have been among them. In the words of Murphy’s Law, “Anything that can go wrong, will go wrong.” Does my company need a business continuity plan? What’s the worst thing that can happen?
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