Insurers will require clients to adopt a new British Standard on business continuity, according to Airmic.

PAS 56 is a fully risk-based approach to developing a business continuity plan that utilises risk analysis and impact assessment.

Airmic chairman Nick Chown said: "PAS 56 is an important step forward, and creates a recognised framework where none previously existed." He added that several insurers were likely to ask clients if they were PAS 56-compliant when renewing policies.

  • See next week's issue for an in-depth look at the standard