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The majority of businesses that suffer a major loss make a full and complete recovery.
Significant damage to an insured business caused by fire or some other insured peril is a cause for significant stress to the business owners and management team.
Australia and New Zealand, as developed countries, with insurance and insurance broking industries being quite mature, have high levels of business interruption insurance among business owners.
Businesses recover much faster from a crisis where the owners work to some form of documented business recovery plan.
It is always easy for a business owner to find alternate premises and re-commence trading with little or no disruption to their business.
As the old saying goes: “All publicity is good publicity”.
Failure to backup records and test the quality of the backups is still an issue for many businesses.
Most businesses find that they can reduce their staff numbers following damage giving rise to a disruption to the business.
A business owner need not insure the property of his customers.
Which of the following can impact the likelihood of a business surviving a major loss?