New drive will encourage companies to take out BI cover

The government is preparing to launch a drive to encourage the wider take-up of business continuity insurance.

The Cabinet Office is due to publish a consultation paper on business resilience before Easter.

The document will cover the financial benefits for firms, particularly SMEs, of taking out business interruption insurance. The government is thought to be interested in making it quicker and easier for firms to cover themselves against business interruption.

Cabinet Office civil servants disclosed the consultation at a recent meeting with Biba.

Biba head of corporate affairs Graeme Trudgill said: “Business resilience is an issue that nobody has taken seriously. It’s fantastic that the government is now giving this issue proper scrutiny.”