As 2022 begins its last quarter, now is a good to review various risk management ideas you may wish to consider and or implement for 2023. Risk Management consists of implementing polices, practices or procedures that reduce the odds of loss or the size of a loss once it occurs. An example of reducing odds of a loss, would be reviewing your employees driving records before you hire them and annually. The better your drivers, the lower the odds of a loss. In addition, training the drivers on what to do after a loss can make a big difference in the size of a loss. Do they know to not offer responsibility, take pictures, get names of other drivers, etc.
All clients want the lowest insurance premiums possible and using risk management practices is a great tool in having lower premiums due to having a more attractive loss history.
Most insurance carriers offer loss control and risk management services at no charge to the client. Consider 2023 as the year to make improvements in this important area of your company’s financial wellbeing. Contact your Cleary Insurance Account Executive to discuss risk management ideas.