Establishing Continuity of Operations
Continuity of operations planning is important in ensuring businesses can survive and thrive amidst disruptions. Effective planning helps organizations mitigate risks, minimize losses, and maintain stability during unforeseen events. Underwriting plays a crucial role by establishing appropriate coverage limits and guidelines to protect against potential losses. Meanwhile, efficient claims management helps ensure that businesses can recover swiftly by providing the necessary financial support. Our recent webinar explored these critical aspects, offering best practices and strategies to help enhance your business continuity planning through robust underwriting, efficient claims processes, and proactive risk management.

Presenters
- Katie Kazemi, Divisional Senior Vice President and Underwriting Officer of Property & Inland Marine at Great American Insurance Group, discussed underwriting guidelines and product management.
- Dan Moore, Senior Claims Technical Director at Great American’s Property and Inland Marine Division, shared best practices for submitting claims, focusing on business income loss.
- Jared Bishop, Divisional Assistant Vice President of Loss Control at Great American Insurance Group, highlighted proactive loss control measures and the importance of pre-disaster planning.
Key Insights and Takeaways
- Underwriting Best Practices
- Time Element Forms: The importance of including continuing normal operating expenses and payroll in business income limits.
- Business Income and Extra Expense Worksheet: Steps to complete the worksheet, including identifying total operating expenses, continuing expenses, and extra expenses.
- Adequate Limits of Insurance: Ensuring policies have adequate limits to cover potential losses.
- Best Practices for Submitting Claims
- Financial Records: Types of records needed for claims and why they are important.
- Forensic Accounting: Using historical business results to project losses and quantify business income claims.
- Expect the Unexpected: Preparing for unanticipated circumstances that can complicate the claim process.
- Proactive Loss Control Measures
- Pre-Disaster Planning: The importance of planning before a disaster occurs to help ensure resources are available and costs are controlled.
- Business Impact Analysis: Assessing potential impacts on business operations and financials.
- Testing and Reviewing Plans: Regularly testing and updating continuity plans to help ensure effectiveness..