Bahrain Insurance Association organizes workshop on Business Continuity Management

The workshop was organized for the benefit of Bahrain Insurance Association members and was conducted by BCM Experts from Leading Consulting Firm (Ernst & Young) in the Kingdom of Bahrain.

The workshop provided members an overview and understanding of the importance of business continuity planning and disaster recovery, where different issues addressed, such as the approach to develop BCM and key considerations for insurance industry that are critical to its survival and continuing operations.

Commenting on the workshop Mr. Srikant Ranganathan - Director, from Ernst & Young, said: "As BCM experts in Ernst & Young we help firms to create an effective business continuity plan as Nearly 1 in 5 businesses suffer a major disruption every year and with no recovery plan, you have less chance of survival. How quickly you manage to get back to 'business as usual' in the event of a fire, flood or other natural disaster, or any other major interruption, depends on how effectively you can devise, and put into action, your own business continuity management.

"BCM is a holistic management process that identifies potential impacts that threaten an organization and provides a framework for building resilience." Added Mr. Ranganathan.

Ashraf Bseisu, BIA Chairman said: "We believe that BCM is an essential tool to any firm particularly in the insurance industry to have unyielding plan to continue its business under any circumstances. We are pleased with the number of participants on this workshop that reflects our member's dedications towards the industry. This initiative of BIA comes as continuation to our commitment to BIA's members in organizing forums on essential issues to insurance firms and helps in building a strong and robust industry, operating in accordance with best practice".