Risk Management has now moved beyond being an industry “buzz word” and is a positive and essential part of sound management.
In past years insurance premiums have been low enough for you to concentrate solely on running your business and allowing your insurance policies to pay the bills should there be a problem. This situation has changed as insurance premiums are now much higher, in particular for all liability exposures. The way for you to contain such insurance costs in the future is to become more proactive in making your company a better than average risk by demonstrating a willingness to embrace sound risk management procedures.
What can we as your Broker achieve for you?
- We will help you to form and then train a Health & Safety Committee utilising your existing in-house expertise.
- Alternatively, we can expand your existing Health & Safety Committee to embrace Risk Management principles and train them in successful methods of risk assessment, control, procedure, training and monitoring.
- Reduce the frequency and severity of incidents.
- Enhance your profile to insurers as being a better than average risk.
- Access additional quotations from insurers who only wish to deal with those businesses that have grasped Risk Management principles.
- Secure lower insurance premiums.
We would like to make it clear that our Risk Management involvement with your company is a product which will be purchased by you and for you. The reports issued in respect of the initial Safety Analysis and ongoing reports from the renewable support packages should you choose them are confidential between you and our Risk Manager and will not under any circumstances be issued to your Insurers. However, our Risk Manager will issue separate “Underwriter friendly” reports three months prior to your insurance renewals which we will use to secure best terms.
Costings are dependent upon your business and the extent of service provided but in many cases we have secured a contribution from your Insurers and, once the benefits of the programmes become apparent, it allows us to negotiate better renewal terms and at last you start to have at least some small element of control over future insurance premiums.
With the kind permission of Norwich Union, this site links to detailed and up to date risk management, advice and guidance. To view click here.