Enhancing business continuity management capacities in the insurance industry : a Southeast Asian perspective
Wong, Kok Loon & Barnes, Paul H. (2011) Enhancing business continuity management capacities in the insurance industry : a Southeast Asian perspective. International Journal of Business Continuity and Risk Management, 2(2), pp. 139-166.
As a resilience enhancing practice, business continuity management (BCM) can play an important role in aiding preparation of the insurance industry for coping with the losses incurred by major discontinuity incidents: regardless of cause. Acknowledging the increasing frequency of unpredictable man-made disasters and natural catastrophes, the insurance industry would benefit from examining and implementing, where suitable, key elements of BCM. Such strategic decisions would assist insurers and re-insurers collectively to enhance mutual capability to respond to, and recover from, the impact of significant losses. This paper presents a comparison of opinions about BCM practitioners in both retail and re-insurance companies on the importance of generic continuity practices with actual levels of BCM practice across the two industry groups in Southeast Asia. It suggests means by which multi-lateral cooperation across Asian economies and between retail and re-insurance market segments might enhance the viability of the insurance industry in the face of increased stress from major natural and socio-technical hazards.
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|Item Type:||Journal Article|
|Keywords:||Business Continuity, Insurance, Resilience, Southeast Asia|
|Subjects:||Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BUSINESS AND MANAGEMENT (150300) > Organisational Planning and Management (150312)|
|Divisions:||Current > QUT Faculties and Divisions > QUT Business School|
Past > Institutes > Information Security Institute
Current > Schools > School of Management
|Copyright Owner:||Copyright 2011 Inderscience Publishers|
|Deposited On:||18 Jul 2011 14:17|
|Last Modified:||18 Jul 2011 14:17|
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