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September 10, 2004

Insurers to insist on recovery plans

Insurance giant AXA plans to lobby the government to put pressure on companies to ensure business continuity and disaster recovery plans are in place.

And the Association of British Insurers (ABI) says that unless firms protect themselves against downtime, insurers will levy higher prices and in some cases may withhold policies until necessary standards have been met.

"It's something we feel quite strongly about and are starting to lobby government on," said a spokeswoman for AXA.

"If you rely heavily on IT systems then you need to have plans in place."

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Posted by Tom Troceen