Aon Quartely Magazine

What can businesses learn from the way the organizers of major events have responded to such unpredictable
threats? The challenge for those in charge of places with lots of people present is managing crises effectively,
which means understanding the risks – and being as prepared as possible for all eventualities.
The potential financial costs of direct damage are compounded in such incidents by the possible long-term
damage to your organization’s ability to function. Property is no longer the only exposure at risk rather, with
civilian casualties now the primary target [of terrorism], organizations must also consider non-damage business
interruption, liability and casualty exposures.”
The implications of the response taken are considerable. While not acting can lead to disaster, the decision to
play it safe can also prove expensive. Developing an effective risk management plan is an essential first step to
minimizing the negative impact of a crisis. After all, the worst case scenario can lead not just to loss of revenue
and business reputation, but also life.
Putting people’s
safety first
There is need to move with speed
and efficiency. The Garrisa University
Terrorist attack was a perfect example
of what devastating effect one can
have to loss of life for lack of speed.
Setting roles and
responsibilities
Keeping people safe when an incident
occurs depends on anticipating the
kind of things that might go wrong,
and being prepared to make the
(often difficult) decision to order an
evacuation that will in itself lead to a
financial loss, rather than risk waiting
in the hope that it proves to be a
false alarm. Getting expert advice to
identify the areas of biggest potential
risk is a vital step with such complex
and potentially catastrophic incidents,
in which verified information can be
slow to emerge, and confusion about
the scale of the threat is often the
biggest initial challenge.
Large events like sporting events
or business conferences present a
particular challenge in this respect.