brier January 15, 2012 No Comments

There are a great many potential risks to any business and it is important to find the right mix of Florida commercial insurance policies for your business needs. However what else can you do to help make sure your enterprise is operating safely?

The first step in good risk management is to identify your key business risks. You may assume you know what they are but you may be surprised if you take the time to go through each area of the business, department by department or stage by stage. There can be risks that were not obvious at the outset. It can be helpful to discuss the risks you identify with colleagues and with an impartial outsider just to make sure nothing has been missed.
Once you have a clear view of the risks, it’s time to work out how to best to tackle them. What can you do to improve the quality of your product to help minimize the risk of product failure or under-performance?

Another area to consider may be workplace safety. You probably have at least the minimum standards in place but how can you improve on this to cut the risk of accident and injury to yourself and employees? This may be an area of improvement that you could get staff directly engaged in. Sometimes people on the front-line have excellent suggestions as they may be closest to a potential problem.

Evidence of improved risk management may in some cases, be a means of helping to reduce insurance premiums. In the long term, keeping risk and claims down can keep the cost of your Florida commercial insurance as low as possible.

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