Phoenix American has had a pandemic recovery plan in place since the Swine Flu outbreak in 2009. Based on our experience and what we are hearing from clients and partners, here’s what we’ve garnered from customers regarding the current crisis from an operational risk perspective.
Disaster recovery plans are critical.
Your disaster recovery plan must be comprehensive, documented and tested. It must include preparation for remote working, data replication to a remote site and significant downsizing. An unexpected loss of human resources means your firm will need to be ready to operate with a minimal staff. The “shelter in place” orders were a surprise to many firms but detailed disaster recovery plans contemplated many of the needed responses.
Read More: How To Emerge From COVID-19 Stronger
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