According to the Institute for Business and Home Safety, an estimated 25 percent of businesses do not reopen following a major disaster and no region of the United States is shielded from natural disasters. The resources below are intended to help your company create & execute a business continuity plan of action if disaster strikes your community. By keeping these plans updated, you can help ensure the survival of your business.
Business Continuity is the ability of a business to continue delivery of products or services following a disruptive incident.
Disaster Recovery is a set of policies and procedures to enable the recovery or continuation of vital technology infrastructure and systems following a natural or human-induced disaster. Disaster recovery focuses on the technology systems supporting critical business functions.
Business Continuity Management
When it comes to Business Continuity there is a multitude of resources available to help you build and execute a Business Continuity Plan in the event of a natural disaster. According to Ready.gov the development of a business continuity plan involves four steps:
- Conduct a business impact analysis to identify time-sensitive or critical business functions and processes and the resources that support them.
- Identify, document, and implement to recover critical business functions and processes.
- Organize a business continuity team and compile a business continuity plan to manage a business disruption.
- Conduct training for the business continuity team and testing and exercises to evaluate recovery strategies and the plan.
Think your company is too small to need a Business Continuity Plan? You are Myth #2 in The Insurance Institute for Business & Home Safety’s (IBHS)Top 5 Myths About Business Continuity Planning.
ALTA Best Practices
Being prepared to manage disaster recovery can greatly minimize business disruption. The third pillar of “ALTA’s Title Insurance and Settlement Company Best Practices” encourages title professionals to have a disaster management plan in place to help protect non-public personal information (NPI).
Disaster Recovery Planning
Information Technology Systems have become essential to the operation of a company, and arguably the economy as a whole; but the ability to continue working after disaster strikes is more than just having a back-up of your server in a safe place. For a business to effectively mitigate loss of revenue following a disaster requires IT Policies and Procedures for employees as well as the hardware and software to maintain an acceptable level of work and communication.
- An information technology disaster recovery plan (IT DRP) should be developed in conjunction with the business continuity plan.
- Complete and maintain a Critical Business Functions Chart to help your business meet minimal requirements for business continuity immediately after a disaster
- Set up procedures and controls for Telecommuting
Telecommuting can be a vital option during a weather emergency or other workplace disruptions