Tax incentives urged for firms' risk management | Bangkok Post: business

FLOOD RESPONSE & REHABILITATION

The government should provide incentives for businesses to have risk management plans in place, in response to the statistically increasing natural disasters caused by global warming, suggests Andrew Durieux, director of Coverage Ltd.

With all the natural and man-made disasters that have occurred in Thailand over the last six to seven years, by now all companies should have in place documented and tested business continuity plans (BCPs), as well as appropriate levels of insurance.

''BCPs and insurance will require updating of risk assessments and planning. If companies do not have BCPs and insurance in place they should quickly do so,'' said Mr Durieux.