In this pandemic, it was clear that we were caught off guard, since neither governments nor the vast majority of companies had contingency plans prepared. Businesses have generally reacted effectively and quickly implemented teleworking systems where possible, which are functioning satisfactorily. We think this form of work is here to stay, which will facilitate family reconciliation and as a consequence increase the productivity of companies.

Contingency plans, also called business continuity plans, which reduce consequential losses in claims, are more effective and useful than emergency plans that reduce material damage. Unfortunately, only a minimum percentage of companies have them established and implementing a contingency plan in their companies should be a priority target for risk managers.

A pandemic is not very foreseeable, but fires, machinery breakdowns, explosions… happen every day, hence the importance of contingency plans in companies.