14 BROKERS’ MONTHLY
Who’s backing up?
Online backup of valuable business data is a risk mitigation
solution so important in today’s digital world, but as Backup
Direct’s Brett Raynes points out it can also help brokers
differentiate themselves by adding value for clients
via partnerships with technology suppliers
n the midst of recession, data is the majority of SMEs even fully
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more valuable for businesses recognise that their data is a
than ever. No company can business asset?
afford to put activity on hold in the Try to picture an office
event of customer data being lost operating without Outlook,
by Brett Raynes
due to hardware failure, or proposal documents, HR, accounts
Managing Director
destroyed by flood or fire. and payroll for just one day.
Backup Direct
However in spite of this urgent Everything would grind to a halt.
need for business continuity, many The daily pressures of running a
small businesses continue to small business and keeping a rotecting data is becoming
prioritise managing costs over company afloat often means that mandatory for business
protecting their assets, and don’t such considerations are put by the
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continuity cover. Many
think about putting adequate data wayside. Until, that is, the day when policies now contain continuity
backup systems in place. In fact, do disaster strikes. clauses to reflect the critical nature
of commercial data, and to ensure
companies are covered for any
liability arising from its loss.
Over and above the damage to
reputation and loss of earnings
caused by a business shutdown, a
company might need to rent
alternative premises, replace
hardware systems and reproduce lost
data – a costly and lengthy set of
processes for which the business will
need to be compensated to survive.
Businesses are usually required
to implement a daily off-site backup
service to validate their data
continuity clauses. The challenge is
that it’s unlikely the average SME
owner will really know where to
turn to find the best solution. This is
where the insurance broker, as a
consultative professional, can step in
and offer the client some tailored
advice.
f the business already has a
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backup system in place, it’s
likely to be a service that allows
it to hand over the reins to an IT
supplier without first questioning
what the supplier will do with the
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