Contingency plans such as voice disaster recovery strategies should be implemented in a holistic manner, the Association of British Insurers (ABI) says.
Kelly Ostler-Coyle, spokesperson for the ABI, claims that the reason many businesses are ill-equipped to handle an emergency is the lack of a cohesive approach to planning.
Some firms might take out insurance but fail to implement strategies such as voice disaster recovery, while others might pursue such plans without purchasing insurance, she notes.
"It's about businesses looking holistically at the problem and to keep renewing how they look at that problem and look at the risks because things change all the time and you work with insurers to make sure you have the best continuity in place should anything happen," the representative states.
The ABI has launched a campaign to assist small companies with coping in the event of an emergency, after AXA Insurance published research showing that 70 per cent of enterprises would be unable to survive in such an event.
Some 27,000 of the 165,000 claims received by insurers in the aftermath of the summer 2007 floods were commercial, according to the ABI.
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