VATINS3830 - Types of insurance: disaster recovery business
These are schemes whereby a business makes an upfront payment to a provider who sets up and maintains a range of IT and related facilities in the event that a 바카라 사이트˜disaster바카라 사이트™ causes the failure of similar business systems on which the recipient relies. Although they may have some of the characteristics of insurance outlined in VATINS2110, generally they will not be seen as insurance because:
- use of the facilities on the occurrence of an event defined as a 바카라 사이트˜disaster바카라 사이트™ is not guaranteed. The facilities are available on a 바카라 사이트˜first come first served바카라 사이트™ basis; and
- the contracts are priced so that the total consideration paid bears a relationship to the cost of the services actually supplied.
Both of these factors indicate that the provider assumes no real risk.