What is the cost of a disaster?

A disaster will lead to numerous costs, implications and even long-term damage. It is not only the financial cost of the equipment or process that has failed. There can be hidden costs and problems. It can even have long-term cascading effects. Depending on the nature of the business, the various costs associated with a disaster could include:

• Business losses

• Reputation losses

• Losing customers

• Stock prices dipping or free-fall

• Employee productivity losses

• Billing losses

• Unnecessary expenditure

• Fines and penalties

• Lawsuits

• Travel and logistics expenses

• Insurance and other hassles

• Other industry-specific losses.