Do you know what you should be checking for when installing solar panels? The installation of them may affect your building insurance policies, so it’s important to asks some key questions before installing them.
Do you know what you should be checking for when installing solar panels? The installation of them may affect your building insurance policies, so it’s important to asks some key questions before installing them.
Identifying supply chain exposure is important….especially in the uncertainty of Brexit. Here are seven important questions to consider for your business.
Who’s liable for damaged goods or service in the supply chain? Here are what to consider before entering into business.
Staff retention and being able to attract potential new employees to an organisation are vital to its success. But to keep and bring in the best staff possible, firms need to stand out from competitors and provide workers with a tempting and comprehensive package.
How will the Bank of England’s decision to increase interest rates effect your business?
Directors and other individuals can be required, through the course of raising SME finance, to provide additional security to the lender by signing a Personal Guarantee. However, signing a Personal Guarantee can leave Directors at risk, market downturn or customer or supplier failure could result in a lender to call on the Personal Guarantee to cover any financial obligations they may have, putting their personal estate at risk.
A big benefit of a corporation is the individual’s limited liability for business debts, although the protection does have its limits.
Corporation directors, officers and employees may each be held financially liable for any personal actions. There’s a variety of corporate insurance, otherwise known as business insurance, and some protect the individuals involved in the company and the corporation itself.
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A large benefit of a corporation is the individual’s limited liability for business debts.
Although, this protection does come with limits. Corporation directors, officers and employees can each be held accountable and financially liable for personal actions.
There are several types of corporate insurance, otherwise known as business insurance, will protect individuals who are involved in the company and the corporation itself.
This insurance protects corporations against any claims that are made of negligence against company representatives, products and services. General liability commonly covers legal claims due to an accident or an injury. The insurance policy will pay for any costs incurred from bodily injury, medical expenses, property damage, or slander.
As expected, property insurance covers the loss and/or damage of the company’s property after events involving vandalism, civil disobedience, storm, fire or smoke. There are corporations that do not own valuable buildings and equipment should consider an investment in property insurance. Many property insurance policies define property to also include any loss of income, papers, money and business interruption.
Professional liability insurance, otherwise known as errors and omissions insurance, protects a company against claims from clients of malpractice, negligence and errors. Essentially, the concept is comparable to general liability insurance, claims of negligently performing professional services are excluded from general liability policies.
UK Plc is looking good according to the latest National Summary of Business Conditions in the UK, as reported by the Bank’s Regional Agents. The one blot on the landscape is manufacturing which has seen a slow down although on a positive note for the sector, material costs were down year on year. The service sector, conversely, remains buoyant.
The strength of sterling allied to weaker overseas demand affected exports and also served to increase competition domestically from businesses abroad.
Consumer spending edged higher; housing activity increased (albeit modestly) and credit availability remained good for most businesses.
Base Rate has been held at 0.5% for another month. According to the MPC, the outlook for global growth has weakened as may emerging market economies have slowed markedly. As a result of this, the MPC expects the pace of UK-weighted global growth to be more moderate than previously expected.
Domestically, however, consumer confidence is remains firm and real income growth is expected to be the strongest since the crisis.
It would appear that when Bank Rate does begin to rise, it will do so more gradually and to a lower level than in recent cycles.
MIPIM London 2015 took place last week – – and Jobson James was there. The UK’s largest exhibition and conference for property professionals, the three day event is an industry showcase and a ‘must attend’ for those in the property world. Jon Parry, pictured, flew the Jobson James flag and he confirmed that the Show more than met his expectations.
The 2015 Big Brum Quiz, the fourth in total, took place last week at Revolution Bar in Broad Street. Jobson James is delighted to sponsor this event which is in aid of the Brain Tumour Charity – such a worthwhile cause.
The fun evening sees accountants, lawyers and surveyors from Birmingham pit their wits against one another. 32 teams answered questions on current affairs, music, sport, geography, TV and film and music intros in a quiz organised by Indi Sidhu of Knight Frank with help from Amy Burton of Baker Tilly.
A wonderful £1350 was raised for the Brain Tumour Charity.
In a hard fought and close battle, the team from surveyors DBK emerged victorious.
Pictured from left to right are:Jon Parry, Jobson James, Amy Burton Baker Tilly, Indi Sidhu, Knight Frank and Graeme McDougall, Jobson James.
The handling of personal information has long been a contentious area. Last week European judges made two landmark rulings changing where, and how, the personal information of EU citizens is handled.
The first concerned a Slovakian owned Hungarian property website that breached privacy laws by passing on customer details to debt collectors. Previously, companies trading in multiple EU states were subject to regulation only in the state where their European HQ was based (so, for example, with Facebook that would be Dublin).
However, as a result of the ruling, companies will now have to comply with the local data protection rules of every EU state that they trade in. This change will not only lead to increased overheads and legal costs for companies but could significantly impact upon their insurance cover, cyber risk and current cyber policies. Some policy holders may well now find themselves without cover from jurisdictions whereas previously they had expected to be protected.
The ramifications for companies and the insurance industry are huge.
‘Booming’ Birmingham certainly is. Indeed, it is on the rise – literally – and business confidence is high. New developments, backed by new investors, are ‘on the go’ and cranes adorn the skyline. Office stock is changing hands as investor and occupier confidence has returned. Indeed, according to Knight Frank, Birmingham has more Grade A enquiries for offices than any other regional city. Birmingham property investment is booming.
Infrastructure wise, the high profile development at New Street Station has led to shoppers flocking into the City and that allied to the recent ‘mega’ weekend of World Cup rugby, Arts Festival and Michael McIntyre has led to millions of pounds boosting the local economy.
Birmingham is buzzing and Jobson James as a company is proud to be based here, working with local businesses to cement their future and ours as Birmingham’s leading independent insurance broker.
Big Brum Quiz 2015, a night in which lawyers, surveyors and accountants pit their wits against each other, takes place tomorrow night. Now in its fourth year, it is yet again a ‘full house’. Will GVA and Hamer Associates be able to hang on to their crown – or will they be toppled? Come what may, a good night is assured and the Brain Tumour Charity will benefit. As usual, Indi Sidhu of Knight Frank is the question master – and the fun starts at 6pm tomorrow at Revolution on Broad Street. Jobson James is delighted to sponsor such a fun and worthwhile event.
Rail 2015 Exhibition is a two day event for the rail community to ‘connect’ and network. Rail is an area where Jobson James has made significant progress in recent years and Keven Parker, who heads up the division, is now recognised as one of the foremost insurance specialists in the rail industry. He is also often quoted in the press as a respected industry commentator. Keven, second from right, is pictured here at Rail 2015 together with Jobson James colleagues.
The Water Event 2015, an exhibition championing water efficiency in business, took place this week at the NEC – and we were there! Being specialists in providing insurance and risk management solutions for companies working in, or supplying, the water industry, Jobson James was present in the shape of Nigel Wallace, pictured, who heads up our Water Industry division.
Cyber risk is set to escalate and evolve and yet only 10% of companies currently take out cyber insurance. The new report from AGCS suggests that the evolving nature of cyber risk will cover new areas such as operational damage, business interruption and even potentially catastrophic losses. With increasing interconnectivity, not to mention globalisation, the frequency and severity of cyber crime has rocketed. Risks are moving on from the established threats of privacy issues, data breaches and reputational damage.
Yet, in the eye of this storm, the global cyber insurance market is a paltry $2bn.
In the UK alone, the cost of cyber crime is estimated to be circa £2.8bn. Granted, cyber insurance is no replacement for robust IT security but it does create a robust second line of defence to mitigate such incidents – while giving business leaders and owners peace of mind.
This is a segment of the market that is set to grow and at Jobson James we are seeing increasing demand for our specialism in this area. The message to business is clear – we are entering a new generation of cyber risk which you ignore at your peril.
There is no doubt in the current climate of the power of accreditation. It is a potent selling tool. Consumers and buyers want reassurance that they are dealing with bona fide organisations and an independent stamp of authority gives peace of mind. Our rail division has been Achilles approved for the last two years and it has proved a very useful marketing tool. We are therefore delighted to have received Achilles accreditation for our Water Industry specialism. As Nigel Wallace who heads up this area for us says: “Achilles accreditation gives utility companies peace of mind and confidence and enables them to manage risk within their supply chain. For us, the influential accreditation gives competitive advantage and significantly increases our credibility within the sector.”
Jobson James is delighted to continue its sponsorship of the Big Brum quiz. The quiz, hosted by Indi Sidhu of Knight Frank, in which accountants, surveyors and lawyers pit their wits against one another, takes place at the Revolution Bar on Broad Street on Thursday 8th October from 6.30pm. Last year this fun, yet competitive, evening in which Team GVA and Hamer Associates emerged on top, raised £1700 for the Brain Tumour Charity.
Commenting on the continued sponsorship, Jon Parry said:“We are delighted to continue our association with the Big Brum quiz. It is a good night and an excellent cause.”
We are delighted to have received Achilles accreditation for our Water Industry specialism. We are water industry insurance specialists and provide insurance solutions for companies working in, or supplying, the water industry. Achilles accreditation gives utility companies peace of mind and confidence and enables them to manage risk within their supply chain. For us, the influential accreditation gives competitive advantage and significantly increases our credibility within the sector.
An in-depth understanding of your business; a bespoke solution; personal service; improved cover and reduced premiums – that is the Jobson James promise. Totally independent, we are not tied to any one insurer and the more complex your needs, the better we are. See what we can do for you. Call Nigel Wallace on 0121 452 8744 or e mail him at email@example.com
A trade credit success story! The benefits of trade credit insurance are all too often overlooked. However, one of our clients, a company providing Property Maintenance and Support Services with a turnover of circa £40m, has saved a mouth watering £18,000 on their insurance premium thanks to Jobson James.
Working with our client when it came to renewal, we identified, with their approval, that their main concern was to cover their larger accounts – and not their entire book of business.
By understanding this, and getting to the bottom of their risk requirements and needs, we were able to significantly reduce their insurable turnover and so reduce their premium costs by 39 per cent.
Not only do we offer a ‘fresh pair of eyes’, we also promise expertise and an holistic approach which can reap substantial benefits. For more information on how we can help, contact firstname.lastname@example.org
Late payments are rocketing for small and medium sized businesses. Most SMEs are now waiting more than 30 days for payments from suppliers which adds further fuel to the Government’s plans to tackle this issue. It is now estimated that the country’s five million smaller businesses are owed £26.8 billion in overdue payments. It is particularly bad in the the construction, wholesale and manufacturing sectors.
The number of smaller firms waiting over 30 days to be paid is on the rise and all too often businesses are faced with the choice of accepting crippling payment terms or losing out on the business. Late payment can mean the end of the road for small businesses. Opening the doors to trade credit can provide a solution to late payment before it has even started. Remember that if you operate on a 10% profit margin and suffer a trade debt of £10,000, you will need to make further sales of £100,000 just to recoup your capital.
Our advice to small and medium sized businesses is to check your customers’ credit rating, chase late payments – and take out insurance.
Trade credit insurance is all too often overlooked by companies. However, research by Bacs Payment Schemes shows that small businesses in the UK are spending, on average, £10.8 billion a year trying to recover overdue payments.
Nearly 80% of companies who experience late payments say that they are being kept waiting one month or longer beyond their agreed terms. Furthermore, agreed modus operandi, such as the Prompt Payment Codes, are simply not working and are ineffective. The financial effects of this are certainly being felt. This means that SMEs are spending, on average, £955 a month to try and reclaim late business payments. Over 25% of SME owners admitted to relying on bank overdrafts as they wait to receive late payments.
Further proof, if it were needed, of the benefits of taking out trade credit insurance to insure against not getting paid by your customers. Don’t give yourself sleepless nights. Call Dan Nixon now on 0121 452 8740 or e mail him at email@example.com
INDEPENDENT Birmingham insurance broker Jobson James has strengthened its management team with the appointment of Dan Nixon (left) as Director – Credit and Surety.
In his new role he will lead the drive to grow the trade credit book of business.
A trade credit specialist and well known to ‘introducers’ in the Midlands, Nixon joins from UK Credit Insurance. He is tasked with targeting growth in larger companies in a variety of sectors.
Commenting on the appointment, director Jon Parry said: “We are delighted to have secured the services of Dan. Trade Credit is a growing area as premiums are low and more and more companies are realising both the benefits, and importance, of trade credit.
“It gives peace of mind with regard to protection of cash flow and can aid growth in export markets to customers about who little is known of their payment record. I am sure Dan will play a pivotal role in our overall growth and we look forward to having him on the team.”
The Claims Management Services Regulator was created following section 11 of the Compensation Act 2006.
The role of the Regulator, if occupied by the Secretary of State for Justice is to authorise and regulate all claims management companies, along with having the responsibility of:
The rules and procedure for authorisation are defined in the Compensation (Claims Management Services) Regulations 2006. The Regulator is allowed to investigate unauthorised trading and explore an injunction to prohibit it or bring a criminal prosecution. It is considered a crime to obstruct the Regulator, and can be punishable on summary conviction with a fine of up to level 5 on the standard scale.
A person may appeal a decision of the Regulator about authorisation to the Claims Management Services Tribunal which would then lead to a further route of appeal to the Court of Appeal.
When section 161 of the Legal Services Act 2007 came into action, claims management services and the Regulator acquired the supervision of the Office for Legal Complaints and its ombudsman scheme. The first complaints had then not been seen to until 2010.
Please visit the website for further information about our Claims Management services!
One of Britain’s leading insurers is urgently advising managers to move the instalment of safeguards against cyber attacks to the top of their priority list.
The request was put through following a Russian hacker reportedly stealing £650 million from banks across the globe in the past 2 years.
Chief executive of Lloyd’s of London, Inga Beale, has stated that her organisation has begun to prepare their clients for the challenges they will surely be facing: “Cyber risk poses the most serious threat to businesses and national economies and it’s an issues that’s not going to go away. The London market has a long, proud history of finding innovative solutions to insuring large, complex risks that are challenging to underwrite locally.”
Miss Beale has made an estimate that business in the UK could potentially risk losing £268,000,000 each year because of cyber crimes, including the damage itself and subsequent disruption to the normal course of business.
A recent Information Security Breaches Survey Report from the government claims a massive 90% of small businesses in the UK have experienced a data breach. The only possible upside that could come out of this is the estimate from Allianz that in the cyber insurance market in Europe could exceed £670,000,000 come three years time, proffering that vital opportunity for emerging IT insurers to excel.
Cyber insurance is becoming a priority as the threat increases for smaller UK businesses.
Please visit our website for further information about insurance and our other services.
Cyber insurance, will, according to the Association of British Insurers, (ABI), be a standard business expense by 2025. As we have previously highlighted, the Government’s Cyber Streetwise campaign found that the average cost of a major security breach is between £65-£115K and can force a business to close for up to ten days.
Yet, despite these risks, and all the publicity that this issue is eliciting at the moment, many small businesses are simply not taking the necessary preventative measures. Burying one’s head in the sand and/or failing to ‘look out of the window’ is not a reason for doing nothing.
A quarter of SME’s apparently think that cyber insurance is too expensive while a further 20 per cent don’t know where to start.
Trust the experts we say – and we have the expertise at Jobson James. Cyber insurance will be an integral part of business going forward – and we can help.
The difference that insurance brokers have from insurance providers is they work for you, rather than the insurance company.
Brokers use their acquired experience and knowledge to help their clients correctly assess their insurance needs, shop for the best value in insurance coverage as well as aiding you in the event of a claim.
A majority of brokers may help you with a quote online, possibly over the phone, however, personal consultations are advised as it will be easier to answer any questions you might have, ensure there are no misunderstandings and no details are overlooked.
Insurance broker services include:
– The assessment of an individual’s needs and obtaining suitable quotes; this will depend on the business, property or vehicle that is being insured which may call for an insurance valuation, taking photos or an inspection report.
– Comparing the coverage from different insurers to get you the best rates and conditions in an unbiased manner along with making recommendations.
– Seek opportunities that will reduce overall premiums by combining the different types of insurance for any discounts.
– Outlining all fo the premiums, terms, conditions and any small print that you may not understand.
– Provide an administrative follow-up, such as any changes in the mortgages and certificates of insurance.
– Provide advice and revisions at policy renewal or mid-term, if material changes are necessary, such as a move or the sale of any asset.
– Their availability to answer any of your questions after the purchase, a large majority of brokerages will be well-established in their community and insurance is their primary basis.
– Making sure the claims are handled with no bias. They will help you throughout the process and ensure you have a fair and quick settlement. Brokers will make a positive difference to an insurer’s payout in a substantial number of claims.
All of these services, should not cost you as a broker is paid a commission through the insurance company that your business is placed with and should value complete transparency with this regard.
Claims management companies are businesses that offer a claims management service to the public.
Each work in different ways, sometimes depending on the amount of money that is paid to them; they consist of advice and services given in respect of claims for compensation, repayment or any other remedy for loss or damage.
You may have to pay a fee for the work the claims management company do, however as well as, or instead of this, the company might:
– make you take out an insurance policy to ensure that you won’t have to pay anything in case of a loss on the case and are charged for side costs
– refer you to a solicitor, in this case a discussion will have to be arranged in regards to payment on the case
If a case is won, there is a possibility that the other side could cover the cost of the insurance that had been taken out, as well as compensation.
In saying this, there is no confirmation or guarantee that the all of the cost of the insurance premium will be reimbursed.
Plus, the compensation that is received may have to be used to cover the interest charge on a loan that may have been taken out for insurance.
There are three main differences between using a claims management company that uses solicitors in contrast with directly employing a solicitor are:
– the payment method
– some claims management companies use a claims manager who acts as a go-between for your and the solicitor
– lastly, a claims management company might insist that you should take out an insurance policy that will cover your opponent’s costs if you lose your case, along with a loan to pay the insurance policy premium
These things will be arranged singularly when using a solicitor.
A risk management action plan is the most effective was for project managers to identify, analyse, plan, and control potential risks, that are a threat to their project.
By setting guidelines, a risk management plan reduces failure and negative impacts.
What is it?
For a risk management action plan to be effective, it should contain specifics, which include, identifying risks; analysing how these risks will affect a project; planning for potential risks and monitoring the risks.
Monitoring risks is performed by controls set within the plan to deal with potential risks.
Other things that should be included in a risk management plan are specific roles and responsibilities allocated to the project managers, team members and stakeholders.
Some projects may need the assistance of IT personnel, if so, IT members should be identified as well.
To keep the risk management plan in effect, it should be reviewed from time to time to ensure the controls that have been set are working.
If you are updating a risk management plan, try to apply previous project life-cycles for examples, such as things that worked and things that failed – identify the true risks that had an impact on those projects.
Something to consider would be setting levels for each risk, from high to low to acceptable.
An example of a high risk could be the quality of your IT department – if it fails to be consistent with its performance, this could turn catastrophic.
An example of a low risk would be if the risk doesn’t affect the project at hand and its outcome.
Acceptable risks mustn’t be ignored. They should be analysed for future projects by identifying the risk’s trigger and how it was/can be resolved.
A good risk management plan should be systematic in nature along with project planning.
The only way to eliminate the risks, is by discovering them and dealing with them in the most suited manner – this will be the key to developing your overall plan.
Setting controls to measure risks
For you to set controls in your risk management action plan, you will need to document the past risks you have overcome and how they were dealt with.
If the resolution to some for some of the risk were ineffective, you can attempt to think of ways that will prevent that risk from appearing again.
Controls should be set for each section of the project.
Creating the following controls using experiences from previous projects:
– Identify and plan for risks
– Document the risks
– Identify the triggers of the risk
– Review the risk
– Re-analyse risks at certain periods
– Determine responsibilities for each of the possible risks
– Set risk strategies
After applying these controls, decide on the technique you will use to monitor and eliminate them – the only way you can ensure good risk assessment in your plan is through the development of good risk strategies.
They are what will have be done is a risk is triggered and should include how you can avoid the risk.
The controls you set in your risk management plan will include strategies for each element of potential risk.
By having an effective risk strategy plan in place, you can avoid, mitigate or accept risks.
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Bad news for drivers in the East of London – it’s reported that you’re paying over three times the amount for car insurance compared to your West End counterparts.
It’s thought that drivers in the West End are enjoying better car insurance rates whilst those of you in the East End could suffer from much higher premiums. It was discovered the a BMQ 3 Series is around £500 cheaper to insure in Putney, which resides in the West End of London, compared to Manor Park, which sits in the opposite direction all the way in the East.
It was also found that four out of the five highest costing postcodes for car premiums all exist in the east of the capital, with Forest Gate, Clapton and East Ham all being included in the research.
The data was compiled by accident camera firm SmartWitness, a London-based company that produced vehicle accident cameras. They discovered that out of the top ten, five of the cheapest postcodes in which you ensure a car exist in the West of London. Areas like Mortlake, South Kensington and Richmond upon Thames are all included in this statistic.
According to the research under taken by SmartWitness, a married family man in his mid 40s who keeps his car parked on the street would be asked to pay £712.22 to insure a BMQ 3 Series in Manor Park. Amazingly, with the exact same scenario, car insurance firms asked for just £220.91 in Putney, a saving of nearly an incredible £500!
To show how this affected other cars, a second query was made. If the same man would instead choose to insure a Ford Fiesta in Manor Park, it would set him back a staggering £548.88, compared to the £176.08 that was asked of him for parking in Putney.
Do you think it’s fair that, for such a small gap between the two places, the insurance premiums are incredibly different? We want to hear from you, so please leave your comments below!
For more on insurance and news on the industry, please visit our website.
To get a flavour of where to start in the analysis of how to save time and money on an insurance program, a basic understanding of a few concepts is necessary. The first is the idea of “Risk Management”.
Risk Management is the practice of protecting an organization from financial harm by identifying, analysing, and controlling risk at the lowest possible cost.
This is obviously a very simplistic approach, however it is a very practical place to start. When an attempt is made to answer these questions more and more questions result. There is virtually no way a company can begin to reduce insurance-related and risk-management related costs without recognizing and evaluating what the company’s true risks and exposures are.
Below are some of the major components we would recommend being addressed as part of the risk management process.
1) Identify and measure all exposures to loss – this is the single most important function and the one most often slighted or only paid lip service. Without this step, there is no rational way to put in place a meaningful insurance risk management program.
2) Develop risk management strategies – this requires top level buy-in – it is indispensable for consistency and helpful to establish the extent of the risk management program and what it is that you want to accomplish. This provides the framework for the company’s goals.
3) Choose risk finance alternatives – through knowledge of the company’s financial structure, organization and risk appetite, the risk manager (you) selects methods of funding risk. Funding includes an appropriate mix of expensing, reserving, transferring by contract, setting up lines of credit, using a captive insurer, pooling with others, and insuring.
4) Negotiate insurance – the term “purchase” when referring to insurance is antiquated and not the recommended approach. Today we say “negotiate” and “buy” as it more aptly describes what should be done. This involves, first of all, deciding what insurance is needed, and then going to the insurance marketplace to obtain the best conditions of coverage and cost. In most cases, this involves working with one or more brokers. However, the key to purchasing insurance is being well informed regarding coverage availability and appetite of insurers, limits and pricing options available as well as creating a competitive atmosphere via a well thought out process and strategy.
5) Adjust and monitor claims – reporting procedure should be instituted, and tracking methods developed, to ensure timely closure of claims. This is a very important function. If claims are left unmanaged then the loss experience will not have true meaning. If there is not true meaning relative to loss experience, then the purchase of insurance will always be skewed.
6) Keep & Analyse records – a very important tool is a complete, well organized record of insured and self-insured losses and all other risk related correspondence and information. This serves to document the plan, problem areas and what is working. It also goes a long way to help mitigate any potential future problem that may arise. In this way, should things change you are ready to adjust at the drop of a dime.
7) Oversee loss preventative activities – this involves the selection of the most appropriate loss prevention support services designed to reduce exposure to loss. Overall employee safety plans, ergonomic studies, driver safety plan, fleet safety plans are some of the types of programs that should be investigated. An important aspect here is to be proactive about loss control…stay ahead of the curve and plan to utilize various services in advance of losses.
While the above are all steps in a process none of these independently will satisfy an overall approach to addressing risk. All the above steps overlap and are inter-related. They tell a story about your company and how it approaches risk and insurance needs. My advice would be to learn to tell a good story about how your company approaches risk and protecting its assets…. ultimately doing so will go a long way to reduce your insurance costs. In our next post we will dig a little deeper into areas of risk to be addressed.
Find out more about Risk Management Birmingham on our site.
Risk Management is a process of identification which is based on analysis and either acceptance or mitigation of uncertainty in investment decision making usually for businesses of any industry.
So essentially risk management will occur any time an investor or fund manager analyzes then attempts to quantify the potential for losses in an investment then based upon that makes appropriate action.
These two different types of Risk Management are always performed within any workplace, public building or business. Operational Risk Management known as ORM is a continual cyclic process of risk assessments, decision making and implementation of risk controls.
Types of Operational Risk Management:
The four principles of Operational risk management includes accepting risk when benefits outweigh cost, accept no unnecessary risk then anticipate and manage the risk by planning, finally to then make risk decisions at the right level.
Types of Physical Risk Management:
Physical Risk Management can include various different types of risk such as physical risks, location risks, human risks and technology risks all in which can harm a business massively without risk assessments and management in place. The thing about risk management and assessments falls down to the importance of it, all potential risks can destroy a business as no matter the size of the business from small to a corporate giant can run into potential hazards especially being unprepared it’ll be a dangerous road to go down.
So no matter what size of business you’re working in or own risk assessment and management is key to keeping potential hazards at a minimal. To find out more try out Jobson James Birmingham who specialise in risk management, claims and many more services.
Non-profit charities area at the heart of our communities throughout the United Kingdom, and Jobson James has been asked the question – Do charities need charity event insurance?
The answer is quite simply, yes – your charity cannot afford to operate without insurance. A most common mistake charities make is to think they are exempt from potential cases against them, so do not operate your charity without charity insurance. Protect your good name, your reputation, and the services you provide, with insurance.
Your organisation is not immune from legal cases against you. The survival of your charity depends on how well you protect your business, your volunteers, and your staff. You should look into getting separate insurance policies. A generic insurance policy may well not be sufficient.Your organisation cannot afford to operate without charity insurance.
Jobson James understand that that in the current economic climate, charities, not-for-profit and care organisations need cost effective solutions for charity event insurance programmes and trustees liability and every penny of expenditure has to be evaluated and justified. Our Charity & Care Division will look in detail at the areas of risk to which you are exposed, the insurance protection you need and the cost of that protection.
We would be happy to fulfil all your charity insurance needs, including trustee liability, fundraising insurance. Call us to find how we can help your organisation – see more at: Charities and Public Sector.
You can call the Jobson James Charity insurance team in Birmingham on 0121 452 8450, the London office on 0207 983 9039, or the Leominster office on 01568 313 313.