Here are two examples illustrating the importance of employing a solid risk management strategy:
- If your company fleet is not maintained as well as it should be, the risk of a breakdown or road accident is increased. This is likely to slow down the day to day running of your business and endanger your employees as well as members of the public (reflected in the high cost of your liability insurance). As a result, the cost of your fleet insurance will also rise.
- If your computer equipment is not stored securely enough, it’s more likely to get stolen. In such an event, you will have the frustration of waiting for this to be replaced by your insurers, who will most likely be basking in the inflated premiums you have been paying as a result of your risk management practices.
So by managing risks as effectively as possible, you can significantly minimise your company’s insurance premiums. This might seem obvious to you, but simple factors such as these are often taken for granted by companies without a solid risk management policy.
C&M has access to a number of insurers who offer specialist risk management solutions to suit your business. These range from risk management training and consultancy at discounted rates to free helplines where you can get advice any time you need it.
Please contact us if you want help finding a suitable risk management company or if you would like us to set the service up with your insurer.