SOW An Organization that Had Insurance to Recover from A Disaster Responses

Assignment:

In your response to your peers:

• Explain whether you agree or disagree with the initial poster, and with the comments of those who have already responded
• Provide another rationale or suggestion based on the scenario selected

PEER POST # 1

For this discussion I have chosen number one. If I worked for an organization that had insurance to recover from a disaster that would be great. The organization could have the best insurance policies that are offered. All of that is good. None of it matters, to include the size of the policies, if the organization has no plan in place to recover. The organization needs to have a well thought out plan on how to recover from said disaster. This should include how and where to spend the money to recover.

A BCP will also help the organization recover in the event of a death. This will give the organization a sense of direction on how to recover while a new individual take charge. The insurance policies are there to help the monetary recovery process. The BCP is to guide the individuals who will bring the organization back. The insurance policies are important but if the money for recovery is being spent needlessly and pointlessly the organization wont recover.

PEER POST # 2

For this discussion I have chosen scenario one. Business’s often times will have multiple insurances set up in the event of disaster, such as liability insurance, replacement insurance and natural disaster insurance. All of these are great for recouping financial loses due to such an event, however, having a business continuity plan is still essential to resume the typical workflow as soon as possible. Having a game plan of how exactly the organization will resume operations is the best way to quickly mitigate any loses that have occurred due to disaster. While certain assets will be replaced and covered with insurance, there can be loss of data or unrecoverable assets that need to be accounted for within the BCP. The BCP will act as a structed outline as to how those unrecoverable assets will be managed, as to not result in major company downtime. Lacking a BCP could leave the organization in a state of panic when certain assets or stakeholders cannot be replaced with the included insurance.