London firms “unprepared for terrorist attack” - Marsh
Many London firms are under-prepared for a terrorist attack, despite the threat remaining high in the capital, according to a survey by Marsh.
More than one third of delegates from mid-sized and large firms in the Greater London area stated that they did not have emergency response, crisis management and business recovery plans integrated within their business continuity management (BCM) framework or risk management strategy.“While there is little businesses can do to prevent a terrorist attack, much can be done to mitigate its impact by forming robust BCM plans, running exercises to rehearse their effectiveness, and managing the risk in their supply chain, or understanding the insurance implications,” said Antony Ketteridge, a Business Risk Consultant at Marsh. AIRMIC chairman Colin Campbell agreed with Marsh that it was both possible and desirable for firms to put in place the necessary business continuity measures to address terrorism. He believed, however, that companies failing to do so were to be found mainly in the SME sector. “Our members are still very much aware that terrorism is a threat, especially in the capital, and they will have up-to-date and resilient plans in place,” he said. “Many companies, my own included, will be working towards alignment with [business continuity standard] BS 25999.” He added that the people factor was one of the most important considerations setting terrorism planning apart from other aspects of BCM.
