Home Page

 

Postheader
 
Home Insurance Auto Insurance Life Insurance Commercial Insurance

Business Insurance 101- Mitigate Thy Risk

Business insurance is a vital component to ensuring your business remains operational when a loss occurs. You simply cannot control everything that happens as there are unavoidable risks that every business faces. However, there are steps you can take to mitigate some of the risks and, in turn, help reduce the overall costs related to your business insurance.

Employee-Related Risks

To minimize employee risks, focus on:

•Create rules and procedures to reduce risks of injury.

•Enforce employee safety procedures and penalize those who break protocol.

•Keep your work environment as risk-free as possible by working with your business insurance agent to minimize such risks.

Vendor-Related Risks

Your vendors present risks to you as well. To avoid them:

•Work only with vendors that you are confident in and have verified as quality, experienced professionals with a solid reputation.

•Ensure vendors have all applicable business insurance to reduce your risks.

•Document all vendor activity thoroughly using names, times and dates.

•Keep your vendors as simple as possible. Get your products from local providers whenever possible to reduce the number of people and businesses in the supply chain.

Customer-Related Risks

Customers can fall and be hurt, or otherwise can create their own mistakes that you may be liable for in some way. Mitigate these risks by:

•Ensure all customer areas of your business are as risk-free as possible.

•Put procedures in place to minimize the most common risks, such as slips and falls on wet floors.

•Ensure any product handed over to customers is inspected to ensure it is safe.

•Interact with customers filing claims quickly and get the details so you can make adjustments to prevent further mistakes.

Business insurance is one of the best ways for you to mitigate all of these risks. When you have ample liability insurance in place, you have a financial net to catch your business so you don't lose everything when an accident happens. We’ve got you covered. Call Johnston & Associates in Franklin, TN at 615-716-2123.

Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive


View Mobile Version
Join Our Newsletter Partners Program Refer A Friend Get A Quote
Johnston & Associates Insurance Quick Links
321 Billingsly Court, Suite 18
Franklin, TN 37067
615-716-2123
Home
Our Agency
Learning Center
Client Services
Get A Quote
Local Partners
Contact
Stay Connected!
Facebook Google+ Blog RSS Feed Twitter LinkedIn