The Optus outage, which left businesses across the country without vital telecommunications services, highlights the critical need for organisations to reassess their risk management strategies. While the outage itself was relatively short-lived, its impact on businesses was palpable, causing disruptions to operations, communication breakdowns, and financial losses. This incident should act as a trigger for businesses to consider the broader spectrum of potential threats to their operations and the necessity of having robust contingency plans in place.
From a risk management perspective, this underscores the importance of having comprehensive business interruption insurance coverage.
