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The Business Case for Preparedness
Lower Insurance Costs
January 1, 2006 1:01 AM
Having an effective corporate emergency preparedness program can result in relatively lower insurance costs and better policy terms for companies, all other factors being the same.
National Roundtable forums with leading insurance companies and insurance industry associations have confirmed that corporate preparedness is an important factor in determining premium policy pricing and such other policy terms as deductible levels.
In assessing corporate preparedness, insurance representatives have indicated that the program criteria in the Standard on Disaster/Emergency Management and Business Continuity Programs (NFPA 1600) are evaluated.