Hurricane season runs from June 1st to November 30th, and as Hurricane Ivan proved in September 2004, no business is completely safe from storm damage. Also worth considering are fire and a possible cyber-attack/virus. It is safest to be prepared and have a plan!
If disaster struck the Cayman Islands, or your organisation, what would your options be? Where could you go and would your data be safe and backed up? Would you be able to move quickly and resume your business services elsewhere within a day or two?
Disaster recovery options include preserving critical material and hard drives in a separate secure physical site to allow you to restore your business back to its full operational capacity as soon as possible; having a disaster recovery facility available in a sound and structurally secure building that is CAT 5 rated and extremely unlikely to flood is a wise move. Can this building accommodate both your personnel and your data and does it have top experts knowledgeable in IT and cyber security? These are some of the things you need to think about. Cayman's sophistication in the corporate disaster recovery field also extends to having world-class facilities for cold storage of cryptocurrencies.
Some companies in Cayman offer secure, resilient workspaces which are fully enclosed for privacy and security and have in-room storage for documents and critical items. They also have advanced fire detection and gas based fire suppression systems. Others also offer a full kitchen with shower and bathroom facilities and 24-hour access via a swipe card with CCTV monitoring.
Grand Cayman is well prepared for a natural or man-made disaster, and along with an incredibly well-qualified team of professionals in the Hazard Management division of the Cayman Islands Government, the Island is ready for whatever scenario comes its way.