On 10 July 2017 Jesús Bueres García-Junceda, Global Head of Forensic Accounting at Ábaco International Loss Adjusters, chaired a business continuity debate at a new session of the Diálogos 2020 conferences, which were organised by the Cátedra Fundación Inade-UDC Foundation. Jesús also participated in an Inade workshop on this topic, which was attended by 50 insurance professionals (Brokers, Adjusters, Insurers, etc.) in addition to Risk Managers from a number of Galician companies.
During the Diálogos 2020 session, Jesús stated that Business Interruption is the most concerning risk for Spanish companies, referring to a study published by Allianz Risk which states that business continuity ranks first with 37%, ahead of fire, cyber-attacks and other risks. The speaker added that in view of this very real concern, it is essential to know and understand the principal aspects of business interruption policies.
BI policies are designed to respond to a loss that results in business downtime. There are numerous causes that may result in business interruption: property damage, machinery breakdown, ALOP/EAR, ALOP/CAR, DSU, NDBI, Product Recall, Cyber Risks, Marine or Aviation Hull BI, Environmental Damage, etc.