Tailor disaster plans to organization: RM. (risk management)

National Underwriter Property & Casualty-Risk & Benefits Management, May, 1997 by Howard, Lisa S.

The key to disaster planning is to grasp what's catastrophic for a particular organization, said Derek Brighton, chairman of the Association of Insurance and Risk Managers, the British risk management association. What constitutes a disaster varies from company to company, he said. That's why he prefers the use of the phrase "contingency planning" rather than "disaster planning" because risk analysis should go well beyond traditional insured risks and encompass the total-risk profile.

For example, a disaster that goes beyond the traditional insured loss is one in which the public loses confidence in a product or the company itself and causes the company to fail, he said in an interview. "When the company loses its reputation, it is a major...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.