Business interruption risks may bring with them large claims such as loss of profit, shrinkage in businesses or even termination of business.
Damages in enterprises can be recovered in accident and suchlike insurances; however some problems are encountered related to business interruption in enterprises during recovery of these damages. Decrease in liquidity in restructuring process cause failure to meet financial obligations. This case reduces prestige of the enterprise, and tremendous financial obligations in larger damages may cause the companies to go bankrupt.
Problems related to business interruption during restoration of the enterprise to its condition before damage are evaluated by the expert staff of NART Sigorta ve Reasürans Brokerliği in analyses based on sector and company size, risk management plans supported by statistics of events caused by such risks in the past can be applied.
In risk management forums held by NART Sigorta ve Reasürans Brokerliği A.Ş., we will keep informing industrial enterprises on application of business interruption insurances
Business Continuity Management
Business interruption risks may occur in enterprises and these situations can be eliminated through business interruption insurances. However, business interruption risks in enterprises may also be caused by deficiencies in some analysis and risk management. For instance, enterprises meeting their raw material needs have to seek ways of supplying raw material in case of a problem about these suppliers. Enterprises must constantly keep their crisis plans updated in case of probable crisis events regardless of any damage.
Business continuity management can be ensured by risk management reports and plans differing by sectors and to be drawn up by completely professional staff. NART Sigorta ve Reasürans Brokerliği A.Ş. can apply its business continuity management plans based on companies in all sectors it offers service.