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Business Interruption in the Era of COVID-19: How to Help Manage Your Risk Exposure

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The COVID-19 pandemic revealed a new set of risks many organizations did not foresee. Amid the evolving economic landscape, companies large and small must deal with uncertainty in operations, finances and regulation. These abrupt changes provide an opportunity for risk managers who adapt to the new environment to build more flexibility and resilience going forward. In Aon’s most recent Global Risk Management Survey, business interruption was listed as the fifth most pressing issue for North American risk managers. However, some of the other top risks, such as economic slowdowns and cyber threats, also tie directly to business interruptions. The collateral damage of COVID-19 has accelerated concerns about business interruptions, cyber threats and economic slowdowns. Managing risk exposure from business interruptions effectively requires a comprehensive approach. This guide aims to provide you with a step-by-step framework to help understand some of the emerging risks businesses face, mitigate those risks, seek program efficiency, limit operational volatility, and pursue a sure footing in the future.

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