The British Insurance Brokers’ Association (BIBA) has worked with the Cabinet Office, to produce the new ‘Business Continuity for Dummies’ book, an essential ‘survival’ guide for small and medium-sized enterprises (SMEs).
Launching today, the guide includes a specific insurance chapter which has been authored by BIBA and explains the role and benefits of using an insurance broker. In addition BIBA will be reproducing this chapter in a white-labelled format for its members to use with their SME customers.
BIBA’s joint aim with the Cabinet Office is to provide guidance to businesses, especially SMEs to help them to understand the importance and significant benefits of business continuity plans. The guide follows BIBA’s earlier research which demonstrates that business continuity plans are likely to stop businesses from failing after a major disruption such as a flood or fire, and that 62% of respondents said that those with plans benefited from premium discounts, reduced excesses and doors opening to new insurance markets.
Graeme Trudgill, BIBA’s Head of Corporate Affairs, said: “BIBA supports the use of the successful ‘Dummies’ series as it is the world’s best selling reference brand, selling more than two hundred million books, with one sold every minute in the UK. This is a great opportunity and platform to promote the important role that insurance brokers play in helping and protecting SMEs.”
‘Business Continuity for Dummies’ clearly sets out how to work with an insurance broker and identify the risks to SMEs, how to create a business continuity plan, applying it in practice and what to do if the worst happens.
The Cabinet Office approached BIBA for its expert contribution to the essential insurance element of the guide. Chloe Smith MP, Parliamentary Secretary for the Cabinet Office, said: “The resilience of SMEs matters. SMEs are the life-blood of the economy, providing employment and growth, and critical services and products to larger companies. They’re also vital in supporting their local communities cope with disasters. The quicker they can be up and running again after problems hit, the quicker whole communities can recover.”
The Rt. Hon. Michael Fallon MP, Minister of State for Business and Enterprise, said: “’Business Continuity for Dummies’ brings together the wealth of experience within Government in support of business continuity planning in SMEs. Working with business, this book takes an innovative approach to reaching out to the 5 million SMEs in this country to build the resilience of our communities and our economy. This Government is committed to supporting SMEs and this book builds on and supports the work taking place to ensure the survival and growth of our SMEs.”
The guide is a collaboration between the Government, BIBA and tens of other organisations representing or supporting SMEs who have come together for the first time in this way, to support and help protect the health of SMEs.