Capital firms gamble on untested risk response plans

Most London businesses feel they are prepared for a major incident or terrorist attack on London, but l less then half have actually tested their plans, according to new survey.

Research by professional services company KPMG and the CBI found that while 86% of the London businesses surveyed said they had continuity plans, only 40% had tested them to see if they actually worked.

The banking, insurance and health sector is the most prepared for an attack on the City, with three-quarters of firms in this group having tested their plans, and 65% possessing a dedicated team to address the issue.

The retail sector was the least prepared with just 65% of respondents having taken steps to prepare for an incident in the City and more then half (56%) had not tested their plans.

Rick Cudworth, head of business continuity with KPMG’s Risk Advisory Services said businesses need to have more confidence that the plans that they have in place will be effective.

“Testing plans is an essential part of any risk strategy and both large and small businesses in the capital feel that they would benefit from government guidance and help on this issue,” he said.

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