Risk managers should keep in mind that although insurance plays an important role in an organization's recovery, the majority of exposures might not be insurable, according to an industry expert.
An organization's solution "should be a balance of mitigation controls, financing strategies and insurance strategies," suggested Gary Lynch, national practice leader at Marsh for business continuity management, in a recent Internet seminar, "Preparing for the 2006 Hurricane Season."
Risk managers should view these elements "holistically, so they can figure the best way to allocate--both effectively and efficiently--capital, management time, resources and management attention to the exposure," he added.
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