BUSINESS CONTINUATION PLAN: 2010/11

Transcription

1 BUSINESS CONTINUATION PLAN: 2010/11 The Business Continuity Plan (BCP) will indicate how the company will respond to events that significantly disrupt our business. Since the timing and impact of disasters and disruptions is unpredictable, we will have to be flexible in responding to actual events as they occur. The plan will provide you with information our business continuity. We would like to plan quickly to recover and resume business operations after a significant business disruption and respond by safeguarding our employees and property, making financial and operational assessments, presenting the firms books and records and allowing our customers to transact business. Our business continuity plan is designed to permit our firm to resume operations as quickly as possible, given the source and severity of the significant business interruption. Our business continuity plan addresses: data backup and recovery; all mission critical systems; financial and operational assessments; alternative communications with customers, employees, and regulators; alternate physical location of employees; bank and counter-party impact; regulatory reporting and succession planning. BUSINESS DESCRIPTION: The company is an insurance broker that is licensed to offer Car & Household, Business, Life, Taxi and Medical aid insurance. We provide these services mainly by obtaining quotations from the various product suppliers either through telephone calls, using the internet, printed documents or using quotation programmes. The company s main income is Car & Household insurance and all the information obtained is kept by insurers on their systems, away from our offices. The company is provided with daily, weekly and monthly reporting of activity surrounding the clients. The company has a small portfolio of financing products which we offer ourselves. The company does not hold any customer funds or securities. All transactions are sent to the different product suppliers which execute our requests and settle them. Our clients include individuals and business owners. In the event of business disruption, the relevant product suppliers can be contacted directly to process transactions. Client accounts are established directly with the different product suppliers. Quotations and requests: Our firm receives quotations from insurers for our customers from our representatives via telephone, fax, and hard copy application forms. During a disruption, we will continue to take quotations or offers through any of these methods available and reliable and will inform our customers when communications become available to inform them what alternatives are in place. RECORDS: Assupol Life, our shareholder, backs up our important records in a geographically separate area. While every emergency poses unique problems based on internal and external factors, such as time of day and

2 the severity of the disruption, Assupol Life has adviced us that its objective is to restore its own operations within a reasonable time frame. Customer requests can be delayed during this period. However, every attempt will be made to insure promptness. The same applies to all the product suppliers. Client records are stored at separate storage facilities also at a geographically separate area. DISASTER RECOVERY: Headquarters and Staff: The company has four offices, Centurion, Polokwane, Pinetown and Port Elizabeth. Only Head office is fully operational with the necessary servers and systems, power back up in the event of a disaster. Head Office is situated in the same building as two other subsidiaries in the group and the main information technology systems are located at Assupol s Head Office at 308 Brooks street, Menlo Park. In the event where Head Office becomes totally non-operational, the employees and systems of the two subsidiaries can be used. Both offices have board room facilities that can act as a temporary place of accommodation until matters have been sorted. Should the entire building become non-operational the operations can be moved to a temporary facility within Cambridge Office park or to Assupol Life Head- Office. Some employees and managers have access to 3G facilities that can ensure some of the most important operations can still continue. A 3G router is available and can be set up in a short period of time at Head- Office or any other suitable venue to enable staff to access the Assupol network and have 3G facilities for communication and quotation purposes. This facility can also be utilized to communicate with clients via the SMS system. A cell phone is available and calls will be diverted to this phone should the telephone system become inactive. In the event where all four offices become fully non-operational services can be relocated to the Assupol Office in Mid-City Pretoria, Assupol Vereeniging Office and even Assupol Head Office, using the training facilities. We are therefore able to transfer our operations to a site outside of the affected area and recover and resume business within one day. We are thus able to continue performing business and will notify the client either by short message system or on our web site on how to contact us. If the disruption is so severe that it prevents us from remaining is business, we will assure our customers access to information. ALTERNATE COMMUNICATIONS BETWEEN THE COMPANY AND ITS EMPLOYEES: We will utilize telephone landlines, internet or cell phone capabilities between and among all of our operations and personnel. We will employ a call system that enables senior management to contact all employees quickly during a business disruption. The call system includes all employee home, office and family phone numbers. DATA BACK UP AND RECOVERY: Hard copies are stored at a separate geographical site by Assupol Life IT. Books and records back-up and recovery It is a standing operating procedure that full back up of operating and client records is electronically backed-up for 5 years and a copy is kept off site. 2

3 Business interruption We would review the electronic information at our offsite location. In the event of an internal loss of our paper records, we would contact our registered representative, who maintains a hard copy or access our offsite storage facility. Updates we will update the plan whenever we have a material change to our operations, structure, business or location or to those of our major shareholder. We will modify the plan for any changes in our operations, structure, business or location or to those of our shareholder. CONTACT US: If after a significant business disruption where clients cannot contact us as usual, contact can be made by any of our other offices or our website. Please find the relevant details below. If contact cannot be made through either of those means, contact the product supplier/insurer directly. CONTACT DETAILS OF KESTREL INSURANCE BROKERS Head Office Tel: (012) : Fax: (012) Building C Cambridge Office Park Highveld Techno Park Centurion 0064 P O Box Menlo Park 0102 Details of the different insurers: Polokwane Tel: (015) / 1 Fax: (015) C Schoeman Street Polokwane 0699 Pinetown Tel: (031) /6 Fax: (031) Warwick Place, Pinetown, 3600 Port Elizabeth Tel: ( Fax: (041) Southern Life Building 2 nd Floor 84 Gov Mbeki Street (Entrance in Donkin Street) Port Elizabeth 6000 NAME OF SA UNDERWRITING AGENCIES (SAU) SANTAM CENTRIQ Contact Details Bond Street Car Park 1 Sportica Crescent 1 st Floor, 4 Ficker Rd 679 Bond Street Tyger Valley Illovo, 2116 Ferndale, Randburg Belville, 7530 P O Box P O Box 3606 P O Box 3881 Illovo, 2116 Randburg, 2125 Tyger Valley, 7536 Tel: Tel: Tel: Fax: Fax: Fax: Detail of Compliance Mr C Stonehouse Compliance Dept C van der Walt Dept & Contact Bond Street Car Park P O Box 3881 ISS Compliance (Pty) Ltd details 679 Bond Street Tyger Valley, 7536 Tel: Ferndale, Randburg Tel: Fax: P O Box 3606 Fax: Randburg, 2125 Tel: Fax:

4 NAME OF AUTO & GENERAL UNITY MOMENTUM Contact Details Auto&General Towers A&G Towers Private BagX Queens Rd, Richmond 1 Queens Rd Centurion, 0046 P O Box Richmond Tel: Braamfontein, 2017 P O Box Fax: Braamfontein,2017 Tel: Fax: Tel: Fax: Detail of Compliance Angelo Hagglyannes Angelo Hagglyannes Mr W van Vuuren Dept & Contact details 37 Empire Road 37 Empire Road Privat Bag X6784 Auckland Park Auckland park Centurion, 0046 [email protected] [email protected]. za Tel: Tel: Tel: Fax: NAME OF FSP SOLUTIONS (PTY) LTD NEW NATIONAL REGENT Contact Details Porta Nova Building 5 th Floor Field House 146 BoeingRd East Elmal Park Corporate Park South 25 Field Street Edenvale, 1609 Gazelle Close, Midrand Durban, 4001 P O Box 674 P O Box Tel: Edenvale, 1610 Randjiesfontein,1683 Fax: Tel: Tel: Fax: Fax: Detail of Compliance Moonstone Compliance Gony Pillay C van Wyk Dept & Contact details Tel: [email protected] P O Box 674 Fax: Tel: Edenvale, 1610 Fax: Tel: Fax: MIWAY 50PLUS ADMINISTRATORS Contact Details th Road Clearwater Office Block Building 4 Randjies Park, Midrand Cnr Christian De Wet and Millennium Boulevard Postnet Suite 382 Strubens Valley Ext 2 Private Bag X 121 Roodepoort 1724 Halfway House,1685 P O Box 2174 Tel: Florida Hills 1716 Fax: Tel: Fax: Detail of Compliance [email protected] The Compliance Officer Dept & Contact details PO Box 2174, Florida Hills Tel: Fax:

5 ALTERNATIVE COMMUNICATIONS WITH REGULATORS The company is a licensed financial services provider. We communicate with our regulators using the telephone, , fax or mail or in person. In the event of a business disruption, we will assess which means of communication are still available to us and use the means similar in speed and format (written or oral) to the means used in the past to communicate with the other party. ALTERNATIVE COMMUNICATION WITH CUSTOMERS: As a back-office operation, our customers communicate with us via their representative or by contacting us via phone or electronic mail or by visiting our offices. Our customers can contact us through any means at the specific numbers provided. We will also inform regulating authorities of our contact details should we have to relocate to alternative business premises and customers can contact the Financial Services Board for our new contact detail or Assupol Life. REGULATORY REPORTING We are subject to regulations of various Acts and file reports with our regulators using paper copies or by submitting the reports by electronic mail. In the event of a business interruption, we will check with all regulators to determine which means of filing are still available to us and use the means similar in speed and format. Designated personnel can be moved to an offsite location in order to produce and deliver required regulatory reports. OPERATIONAL AND FINANCIAL ASSESSMENTS: Operational risk - in the event of a business disruption, we will immediately identify what means will allow us to communicate with our customers, employees, critical business constituents, banks, counter-parties and regulators. Although the effects of a business disruption will determine the means of alternative communications, the communications options we will employ will include our Web site, telephone, fax and short message system. Financial and credit risk We will determine the value and liquidity of our assets to evaluate our ability to continue to fund our operations and remain in capital compliance. The Company has business interruption insurance in place that covers wages and limited operational expenses. We will contact our shareholder and banks to appraise them of our financial status. If we are unable to meet our obligations to fund our operations, we will request additional financing form our long-standing relationship with our credit sources to fulfil our obligations. If we cannot remedy a capital deficiency, we will file appropriate notices with our regulators. SUCCESSION PLANNING: The Managing Director has in depth knowledge of the company and fulfils more than one task being managing director, compliance officer and marketing manager. The risk for the company is in the event of the managing director not being able to fulfil the functions places the company at risk. The managing director is an employee of Assupol Life and is not employed by the company. The managing director has identified and appointed a second in command that has the same in depth knowledge of the company. The risk is that the second in command will not be able to take on the added responsibilities due to the fact that he also manages more than one portfolio which is Client Services, Training, Human Resource, limited financials and Information Technology. Human Resources, Information Technology and Financing are outsourced to the major shareholder. 5

6 Plan: In the event where the managing director becomes unable to render the functions and responsibilities the plan is as follows: The second in charge to take command until the shareholder decides on a successor. His functions will then be to act as managing director as well as compliance officer. M. Botha to take over managing marketing nationwide. J. Potgieter to take over Information technology and human resources management and negotiate assistance with the outsource provider to become more involved in the process. KEY INDIVIDUALS AND COMPLIANCE OFFICER: The company has an internal compliance officer which also acts as the Key Individual for all business lines which places the company at risk in the event where that person is no longer available for some reason or another. The company registered the second in charge as Compliance Officer, if required the person will be linked with the company at the FSB.. The following persons are registered as Key Individuals for the designated products: Car & Household: J. Potgieter M. Botha S. Steenekamp C. Laidlaw* L. Smith M. Mlambo Business Insurance: S. Steenekamp L. Steenekamp L. Weideman Life Insurance: M. Smit L. Steenekamp L. Smith M. Botha J. Potgieter Medical Aid: L. Steenekamp L. Weideman L. Makaringe* *Pending at FSB The ideal for all senior managers is to obtain the relevant qualifications to be able to function as Key Individual for all products. Disclaimer: The Company`s comprehensive business continuity strategy is designed to enable us to meet our existing obligations to our clients and customers even in the event of an emergency or significant business 6

7 disruption; however it is not infallible. The plan is designed to work in many different emergency situations; but these events are, by their nature, unpredictable and it is impossible to anticipate every scenario that could cause a business disruption. Furthermore, although we are confident in our own preparedness, Kestrel Financial Solutions (Pty) Ltd trading as Kestrel Insurance Brokers has no control over the various entities that we must rely upon in the event of an emergency. This BCP is subject to change without notice. In the event that this BCP is modified, the updated document will be promptly posted on our internet website. Alternatively, customers may obtain an updated hard copy BCP upon request. Nothing contained herein shall be construed to amend, supplement or otherwise modify any of the terms and conditions set forth in any customer agreement between you and the company. 7