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business continuity checklist
Risk Assessment and Management
Identify and evaluate potential risks specific to the insurance sector.
Develop a risk management strategy tailored to identified threats.
Review and update risk assessment procedures regularly.
Coordinate with risk management teams to mitigate vulnerabilities.
Ensure compliance with regulatory requirements for risk management.
Business Impact Analysis
Analyze critical business functions and processes.
Assess the impact of disruptions on business operations.
Prioritize resources for essential functions during a crisis.
Consult stakeholders to gather comprehensive impact data.
Document findings and update the business impact analysis periodically.
Emergency Response Plan
Develop a clear communication strategy for emergencies.
Establish roles and responsibilities for crisis management teams.
Set up a system for emergency notifications and alerts.
Conduct training sessions and drills for emergency preparedness.
Review and update the emergency response plan annually.
IT and Data Recovery
Implement a robust data backup and recovery system.
Ensure IT infrastructure resilience against cyber threats.
Plan for alternative work arrangements in case of IT failures.
Test data recovery procedures to ensure effectiveness.
Maintain a list of critical IT contacts for rapid response.
Communication and Coordination
Establish internal and external communication protocols.
Develop a stakeholder engagement strategy for crisis periods.
Create a directory of key contacts and suppliers.
Utilize multiple channels for effective communication.
Regularly review communication plans for relevance and accuracy.
