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Latest NewsBusiness Continuity - A new research report. Over the last 10 years, Business Continuity has become one of the most important risk management techniques employed in business. With the ever-increasing complexities in supply chains, the need to keep businesses running no matter what, Business Continuity Management (BCM) is essential. Also, with business interruption costs dominating insurance claims where major physical damage has occurred, insurers are insisting more and more that their insured clients have properly tested business continuity strategies. In the last 12 months, British Standards have published the UK standard for business continuity (BS25999). This provides a comprehensive approach for organisations of all complexities. However, the vast majority of British businesses are small to medium enterprises (SMEs), for whom considerable interpretation of BS25999 is necessary, to successfully address their leaner organisational structures. Risk management publications and standards often ignore the SME sector; therefore this IIL study report has focused specifically on the sector. The study has researched how insurers treat business continuity in their evaluation of insurance proposals from SMEs. The study also looks at what would make a difference in this process, as well as providing a simple approach to developing BCM for the SME. The approach is fully consistent with BS25999 but phrased in appropriate language and organisational requirements to suit SMEs. Furthermore, it includes an assessment methodology for both self and third party assessment. The study group members come from across the spectrum in relation to business continuity: insurers; brokers; advisers; practitioners; business. The combination has created a practical yet robust approach to BCM for SME businesses. The book provides an excellent summary of the current position and valuable, practical guidance to businesses and the insurance community concerning BCM for the SME sector. RS249 @ £35.00 members / £45.00 non-members plus postage and packing of £7.50 (for up to 5 reports). Orders can be placed here War Risks and Terrorism - A new Research Study Group Report from the Insurance Institute of London Terrorism – insurance for it or the exclusion of it – has fallen under the spotlight in recent years. While the global market has resiled from insuring modern terrorism with more vehemence than ever, the London underwriting community has responded to modern threats with characteristic flexibility and entrepreneurialism. This new Study examines insurance for terrorism and associated perils in the post-9/11 world, where further major attacks unfortunately have confirmed that the terrorism threat is serious, sustained and global. Although the emphasis of the study primarily is on the United Kingdom and non-marine cover, there is a specific chapter on marine insurance, and some products in the United States and Europe are included. Of course, a study of the current market and terrorism wordings is enhanced by reference to the history of these and similar terms, and this book covers the historical development of war, terror and associated wordings, including riot and civil war. To assist practitioners, legal interpretations of commonly-used clauses are included, along with a discussion of the legal issues that might arise from the provision or exclusion of cover. A class-by-class analysis of underwriting terrorism risks, including in the property, marine and aviation markets, is undertaken. This will assist readers in locating specific information on demand for products, underwriting issues, and current wordings in those types of business. The study includes detailed approaches to claims handling and business recovery. A unique chapter provides insight into risk management from the perspective of the corporate risk manager of a major multinational. The role and impact of state terror pools is explained. This 170 page book provides invaluable insight and guidance for all insurance practitioners, as well as a very informative read for anyone interested in headline news events. Orders can be placed here - £40.00 members / £50.00 non-members.
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