Archive for February 17, 2011
You Have A Plan. Now What?
Far too often organizations spend thousands of dollars and countless hours building a continuity plan…and then it sits on a shelf collecting dust. Why build a plan if you can’t realistically put it into action when the fire strikes, when the flood hits, when the power goes out?
The disconnect between “building” the plan and “acting” on the plan is a major flaw in many organizations. The stats are humbling:
- 90% of organizations have a formal data restoration plan. Yet, only 50% have the ability to restore power.
- According to a recent study of Public Works departments:
- 90% spend less than one day per month maintaining continuity plans.
- 1 in 5 spend NO time maintaining their plan.
- Only 28% have access to alternate office space.
- Only 54% could acquire replacement office equipment.
To provide guidance on this subject, Agility solicited the help of David Paulison. Chief Paulison is the former FEMA Administrator (’05-’09) and an internationally recognized leader in disaster preparedness, response and recovery.
Chief Paulison is hosting a free webinar today,
2/17, at 2:00 EST. Click here to register.
Subject: “The Executable Plan – Taking your Continuity of Operations Plan to the Next Level.”
On this webinar you’ll be able to ask questions and get straight answers from one of the country’s foremost experts. We hope you can join us.
Click here to register.
For over twenty years the Association has endorsed D&O and Bond Insurance through the American Bankers Association (ABA) Sponsored Insurance Program, underwritten by Progressive, now known as ABA Insurance Services*. With the recent buyout of the program, we became aware through the ABA Insurance Services of an employment practices liability (EPL) insurance program for small commercial businesses. This program provides a small commercial business with employment practices liability coverage at favorable rates, no set minimum premium, direct billing, low retentions, free legal services and options for defense outside of limits and third-party coverage. It offers an improved coverage solution over EPL endorsements to a BOP or GL and can be applied for online. This product is not available anywhere at these low program rates.
We want to gauge your interest in offering such a product to your small business and commercial account customers, either through your bank-owned agency, your insurance agency of record or simply informing your customers of its availability and directing them to the online web address. Banks with their own agency would receive income through the normal sales and commission process, while banks without an agency may want to simply make their commercial customers aware of this valuable insurance product and service to use as a low-cost effective alternative to any similar type of insurance coverage that they might be currently using.
We are in the process of working out the details, but are most interested in determining your interest in this product. Details can be found here for your review. Please note that ABA Insurance Services is working to amend the policy to include doctors, dentists and law firms.
Please answer a few questions found here. Thanks again for all your help.
Peter T. Blanchard
Executive Director, Education Management and Member Services
Telephone: (617) 523-7595
Fax. (617) 523-6373
*ABA Insurance Services is owned by American Bankers Mutual Insurance Ltd. (formerly known as American Bankers Professional and Fidelity Insurance Company), a mutual reinsurer owned and directed by ABA member banks.