“Planning for Disasters”
In an article published in the 2017 November issue of ACC Docket, Swift Currie partner Lane Finch and Woodruff Sawyer & Co. partner and Senior Vice President Priya Cherian Huskins provide guidance as to how businesses can ensure that they are prepared in the event of a disaster, whether it be a hurricane, flood, fire or cyber attack. Finch and Huskins stress the importance of a business interruption plan, which includes two key factors: devising a business plan to minimize the interruption of your company’s business in the aftermath of a natural or man-made disaster and to insure against those things you cannot avoid. "The frequency of natural disasters is increasing, as is the magnitude of losses,” Finch and Huskins write. "There is also no doubt the frequency of man-made disasters, particularly disasters caused by cyber threats, are increasing rapidly in both frequency and magnitude.” Every company should undergo a thorough evaluation of its current insurance program and a realistic breakdown of the additional coverages it needs in the face of both its “old school” and cyber risks.
Please click here to download a PDF of the article.