Having experienced the initial phases of a pandemic, and currently living through the recovery phase, we can now see the importance of solid planning.
However, for sport and recreation associations, having a good business continuity plan alone is not enough – this best practice often needs to be filtered down to members and member clubs.
As we have seen, when members and member clubs have negative experiences, particularly during a crisis, this can have a negative impact on reputation for the entire sport.
Understanding the workings of a good business continuity plan, and the insurance that it stands on, is essential for sport and recreation associations and their members.
Having a plan will help to manage the implications of events like flooding, loss of key employees, event postponement, and legal issues that could tarnish reputations.
Businesses and organisations around the world embed this process into their work to help anticipate and pre-empt risks that threaten their survival. If your organisation already has a business continuity plan, this is a good time to test whether it is still robust in this post-COVID-19 world.
Our one-hour zoom workshop on Thursday 5 November will focus on the sports sector and aims to take you through the business continuity process, identifying areas you should consider along the way.
We will explore and discuss what business continuity means for sport organisations and provide some tips on how to effectively produce a plan.
Our workshop panel will include specialists from both Marsh and Bluefin Sports’ risk management and insurance practices. The session would be particularly suitable for individuals who are operationally responsible within National Governing Bodies, Active Partnerships, Membership and Representative Bodies or for anybody that simply wants to broaden their understanding of the business continuity process.
Of course, an important element of the planning process is to control your costs. With this in mind the session will also briefly touch upon the current state of the insurance market. Why are premiums likely to increase, what is a hard market and what are the impacts of COVID-19 on the insurance sector? We will attempt to answer these questions and highlight strategies you could you adopt to achieve a positive outcome during this period of change.
This is the time to be ensuring that your business continuity plan is robust and fit for purpose, and that you are supporting your members and member clubs to do the same.
Daniel Thompson | Head of Sport - UK | Bluefin Sport