Business Interruption Insurance Reviews
The Issue idRisk implements a
To comply with the requirements of shareholders, governing
includes analysis of:
bodies and insurers, it is increasingly important that company
officials and their advisers understand the business
interruption risks inherent within their organisations and the Revenue and definition
adequacy of their insurance arrangements. and calculation of insurable
The impact of these risks is increased by:
Interdependencies within the organisation. seasonalities and “market”
Single points of failure and/or bottle necks in the process sensitivities.
chain. Increased cost of
Single sources within the supply chain (often not working expenditure.
understood or evaluated). Key items of
Information and communications dependencies. infrastructure and
Property/location risks. replacement lead times.
Risks at the premises of key suppliers and customers. Business activities which
Market sensitivities and brand and reputation issues. cannot easily be
The solution Resilience and
idRisk offers a professional and specialist service to evaluate
key insurable business interruption risks. This is achieved by Identification of
the production of an 'interruption report' detailing: suppliers which are single
sourced and the ability to
The principal financial and operations dependencies and resource items.
the potential consequences of an insurable event.
Quantification of business interruption loss figures. electronic data and
An analysis of future insurance needs. communications and
Risk Management recommendations as appropriate with disaster recovery planning
particular reference to Business Continuity Management. arrangements.
This consultative service is offered as a stand-alone review, Business continuity
as part of an operational risk review, or as part of, and planning/risk management
quantification of, a business continuity management exercise. arrangements.
Benefits of idRisk’s solution Assists management in mitigating the
risk exposures and formulating a risk
Calculates the Maximum Amount Subject and financing programme.
Normal Loss Expectancy to assist management,
Measures the value of business
placing brokers and insurers in evaluating the B.I.
continuity planning arrangements in
terms of reduced B.I. exposures.
Evaluates future insurance needs and audits Gives an understanding of the terms
these against current arrangements. and conditions of the insurance cover.
idRisk Advisory Limited is authorised and
Contact idRisk Telephone: 0845 22 55 606
regulated by the Financial Services Authority