Fully understanding the risks your business faces allows you to manage them properly, prevent accidents and get the right level of insurance.
Risk management should be an integral part of your business strategy. Employees or third parties who are injured while working for you can have a significant impact on your business, with costly claims and lost working hours, as well as legal issues if you haven’t met statutory requirements, like fire safety assessments.
Additionally, damage to your property, equipment and stock might make it impossible for you to keep trading in the short term.
So it’s important to take a proactive approach to looking after your staff and your assets, with a solid risk management plan. It may well be worth using a specialist risk management company to help you make sure your business complies with legislation, reduce risk in your workplace and plan business continuity.
Key to good risk management is spotting danger areas and preventing accidents before they happen. A risk management audit will cover your business health and safety practices, security, building and asset valuation, and business continuity planning.
Some of these areas may only require minor changes to bring them into line with best practice and legal obligations, while you might need to spend more time putting others right. But investing in making your business safe will give you the reassurance that you’re compliant and allow you to get adequate insurance, so you’re covered if things go wrong.
To find out how risk management can help you protect your business, call the Caunce O’Hara Insurance brokers Ltd Risk Manager on 0161 833 2100.
Protects against claims of alleged negligence in your professional services, advice and designs.
Protects your assets in the event of a claim. You may be held personally responsible for your business action and will have unlimited personal liability.