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Volume 30, Issue 3

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Wednesday, 23 August 2017 15:29

The Difference Between Business Continuity and Insurance – Business Continuity 101

In last week’s blog, we discussed why you should invest in a business continuity (BC) program. One point we made was that insurance against loss is typically not enough, so the additional value provided by a business continuity plan and program are needed. It’s important to know the differences between business continuity and insurance, and why insurance should be a part, but not the entirety of your business continuity plan.

The Difference Between Business Continuity and Insurance

Before we consider the differences, it is relevant to understand that business continuity is a form of insurance. The insurance we are comparing BC to is a contract of coverage where a party agrees to indemnify or reimburse another party for a defined loss under specific and defined conditions.

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https://www.mha-it.com/2017/08/business-continuity-and-insurance/