Know Risk is a community education program designed by the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) to improve our understanding of insurance and how it relates to managing the many risks we all face in life.
Small business tips to prevent loss of data
After a disaster such as flood or fire, damage to computer systems or electronic data may result in a loss of valuable records.
The insured will incur the cost of replacing those items of data and the associated interruption to the business.
Check out the following tips to prevent losing important data for your business;
o Have a backup procedure in place, and record this as a stored document.
o Document the frequency that records are backed up.
o Ensure that backups are tested.
o Keep backups off site and away from the insured premises.
o Try to minimise risk or exposures at the place of storage of the backup.
o Always have at least one back up off site.
Lastly, be sure to discuss your requirements with your Insurance Advisor.