Gary Lynch, managing director of the business risk solutions group at Marsh in New York City, agrees that the more sophisticated business continuity plans design contingency plans for any possible event, whether weather-related, labor unrest or a pandemic, that can suddenly derail operations.
“This is a very event-driven business, and the approach can be the risk of the day,” says Lynch. “The better companies are focused on developing specific plans, rather than an event that may trigger a shutdown.”