The current Southern California wildfires are not the only outbreaks to occur in 2017. This year alone, the U.S. witnessed about 50,000 wildfires, with more than 3.4 million hectares burned and the US Forest Service has named 2017 as the most expensive firefighting year on record with over $2 billion spent.
Businesses need to be looking towards what the continued impacts are of this year’s season. Here are a few predictions of how business continuity management will change in the coming years as a result of the 2017 wildfire season:
1. Regulatory Guidelines
Recent events have caused many to speculate that changes will be made to regulations or that new guidelines will be established for protecting, preventing and planning for wildfire specific threats.
2. Rebuilding and Restructuring Considerations
As areas begin to rebuild and repair for the effects of the outbreaks, structures may be built with new fire-resistant roofing materials, screening ventilation and overall designs may be less receptive to fire’s effects. As these new elements are adjusted or added, business continuity plans should be audited and updated accordingly.
3. Insurance Rate Reassessments
The potential for increased insurance rates for protecting your organization against a fire related loss could impact your selected coverage and ultimately your BCM budgeting, recovery and response activities.
4. Business Continuity Planning Enhancements
It is likely that companies will build on their emergency response or disaster recovery plans and define a comprehensive business continuity program. For those companies with plans in place they should look to investing in protection measures such as a business continuity software or emergency notification management system.