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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.

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Abstract

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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ID Code: 43333
Item Type: Journal Article
Keywords: Business Continuity, Insurance, Resilience, Southeast Asia
ISSN: 1758-2172
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: 15 Aug 2013 08:51

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