Business Continuity: Case Study

The insurance policies of a leading London law firm were expiring. The renewal deadline was only six weeks away, however, insurers refused to renew! Pace received a call out of the blue.

As negotiations started on the renewal of our client’s insurance policies it was quickly revealed that the firm’s business continuity plan was inadequate. So much so, that insurers deemed the firm a red risk, rendering it uninsurable.

Our client approached business continuity specialists and other consultancies for a solution, but were quoted lead times of three to six months and costs in the region of £300k. Given the renewal deadline of six weeks, the client didn’t have the time, nor the budget to pursue this route.

Pace was called to see what, if anything, could be done.

We returned two days later with a proposal that leveraged logic and simple pragmatism. Whereas the client and other consultancies had approached this challenge as an exercise of origination, Pace approached it as a fact-finding mission. Pace was certain that the talent, data and expertise needed to create a business continuity plan already existed within the firm, it just needed to be linked together and made into something coherent.

With some fast internal collaboration (led by Pace), the client was able to point us to the firm’s assets, where they were stored and what scenarios had already been designed to tackle emergency situations. Pace connected these disparate events together via a process that linked all emergency scenarios into one cohesive action plan.