Does your Insurance protect you from this?

Are you in finance, or operations for your company? Have you looked at a comprehensive review of what can interfere with you business operations and cash flow.

One of the areas is government and infrastructure.

Are you prepared if you get a sinkhole in front of your street that prevents access?

One owner in this story says its a triple loss.....he is losing Customers, Income, and inventory from the water damage.

Read more here.

How to Break into Fort Knox?

As someone who used to protect the Canadian version of Fort Knox, I have a few thoughts on this column......but I will keep them to myself.

A short slide show on what protects Fort Knox.

.....although there are a lot of people questioning if the gold is really still in there!

Getting Your Insurance Policies in Shape for Business Continuity

What are some of the simple things you should do now, before you have a business interruption?

1) Call in your insurance agent and find out what your policy currently covers in terms of business interruption and claims.

2) Have your insurance agent point out any gaps or potential gaps in your coverage, so you are at least aware of your options and can weigh the benefits of increasing coverage, or manage the risk yourself.

3)Develop clear guidelines for how to contact and process information in the event of a loss.

4)Decide if you need to create, update, or train your team on emergency responses to business interruption events. (we can help you with that plan)

5)Insure your program protects key documents, invoices and accounting required to make claims.

If you need help putting together a business continuity plan, contact us at rossmcleansecurity.com

Security at a Las Vegas Data Center

One of the purest forms of Business Continuity Planning is at massive data centers.

Downtime at a data center can be tens of millions of lost revenue a minute for its customers.

While physical security measures have always played a key role, energy and cooling for the centers is rapidly rising as key points of failure.

For this data center, even the heat off of each led light is a consideration in their planning.

Read the article here.

Hottest Title on Wall Street - Chief Risk Officer

As we discussed a few years ago....risk and managing it is increasingly an important consideration for businesses.

This article shows the profiles for some of the top Risk Management Officers on Wall Street (they needed them in 2008).

The position now reports to the CFO and pay is thru the roof for top risk managers.

The article is here.

Managing Risk more important now .....

2008 and beyond, we have moved into new territory for managing risk at the macro level.

Companies and individuals are starting to see that risks exist that can wipe them out.....it just could not happen to them.

From the banking sector, mortgages, to even the value of the dollar that everything you own is based on is at risk.

We have extreme concentration of power and money in sectors now, single points of failure that can fail three times or more removed from you, but can bring down your financial position.

Those are just the man made risks.

Japan has suffered from "the lost decade" where they have not recovered from their financial woes...they were the manufacturing jewel of the world but due to competition in India, China, and Korea, were never able to regain top spot and margins on their products. They face increasing competitive nations who can go lower on costs.

Add to that the recent nuclear accident caused by the earthquake and the tsunami. The costs are devastating.

If you think it can't happen to you, think again.....read about how Suzuki Motors is looking to move entire factories out of danger zones, even to move some of them out of country.

Short article here.