View this article online: https://www.claimsjournal.com/news/national/2004/03/09/39957.htm

ABD Insurance and Financial Services Responds Following Survey on Critical Concerns of CFOs

According to a recent survey by Robert Half Management Resources, the top two areas of vulnerability cited by CFOs are disaster recovery (37 percent) and security of information systems (24 percent).

California-based ABD Insurance and Financial Services, in a continuing effort to provide public service business solutions, has compiled a 10-step list that can be used by CFO’s and business leaders to initiate a relatively quick risk control program for
critical business functions. While these measures will reportedly not eliminate the need for more extensive review and correction actions, they do provide a starting point for those wondering where to begin.

A common theme between disaster recovery and security of information systems is the need to understand the wide range of risks facing companies today and the need for highly structured companies to develop new ways to understand and manage their risks.

By developing cross-company risk management approaches for these two areas, companies will reportedly begin to move toward a systematic, enterprise risk management program that will be able to reduce risk and control cost.

The 10-step list, along with other information for businesses that
need to properly assess exposures in order to create a comprehensive risk management program, is available online at www.cybersure.com.

“CFO’s are justifiably worried about the areas of disaster recovery and information technology security,” according to John Schaefer, ABD’s vice president of enterprise risk management services and author of the 10-step program. “In some cases, this concern may inspire the creation of full-time program managers to address these needs. However, even less committed executives can take the ten steps toward reducing their anxiety and creating a safer organization.”

Previous public service business offerings by ABD include ‘Tips on Terrorism Insurance’ for businesses and a guide to SARS risk insurance coverage for business travelers.