The Allianz Group is committed to safeguarding the interests of all stakeholders in the event of an emergency or significant business disruption.
At Group level, leveraging of Business Continuity Management activities across the variety of units around the globe is of utmost importance. Thus in July 2002 the Allianz Board has confirmed that all entities of the Allianz Group must have a Business Continuity Management (BCM) process in place to ensure effective response and reaction to a disaster that may cause severe disruption to business processes.
Goal of the BCM process is to ensure continuity of critical business functions and of customer service in each local Operating Entity (OE) of the Group.
Responsibility for the development and implementation of the BCM program in the OE is with the CEO of the OE.
The BCM programs in the OE must comply with the following:
1. The BCM process must be driven from the top of the organisation and must become part of every business manager's normal responsibilities.
2. Each Allianz Group Operational Entity must develop, implement and maintain a Business Continuity Management process and plan(s) to:
- identify the impact of loss or disruption to the business and the potential exposures which may be present
- develop, maintain and test suitable business recovery planning for all subsidiary business units and locations
- regularly review the continuity requirements and planning to ensure that it reflects the needs of the business
3. Each Operational Entity's BCM process must, at a minimum, address the following:
- staff safety, welfare and internal communications
- resumption of critical business functions
- meeting contractual obligations
- management of risk
- maintenance of client confidence and the reputation of the business (via external communications)
4. Each Operational Entity must review and test their business continuity plan(s) at least once every twelve months
5. All applicable legal or regulatory requirements must be complied with in addition to the internal requirements