The Future of Risk Management in 2018! – Buy or Sell?
What is the future of Risk Management in 2018? Great question, and reason for this
article exploration! Find Business tips to secure your business, and reduce risk exposure
at the same time. So, without further ado, lets open the discussion on Risk Management in today’s
Business world, and how to properly secure your business against common risks.
The Future of Risk Management
The future of risk management is built through trusting relationships.
These relationships can help shape future risk management accounts.
One important factor many sales people forget to remember,
is sales is basically being helpful and sharing useful advice to one another.
As your advice starts to build trust, a following starts to form.
You are then seen as a professional or expert in that specialty market.
This in turns opens other potential leads and channels of business.
Topics of Expertise – Safety Recommendations
Some topics of discussion that build trusting relationships and a
growing following is safety concerns. This is always helpful solid advice.
It provides protection for everyone, and is seen in some cases as
community building. This is because, some safety advice effects the entire community.
For example, safety issues in relation to community parks and accommodations.
If the safety of these structures is secured and reinforced, it serves for the protection of all.
So, you can see how safety tips really ignite conversations on all levels, not just in a sales organization.
Below, you will find topics for recommendations.
These safety recommendations will be itemized under fire safety.
Now, let’s talk fire safety!
A lot of people think of fires safety diagrams when it comes to this recommendation.
This might be all the fire escape routes we have seen over the years.
This is true and apart of the recommendation area,
but a more resourceful tool used for this recommendation is an actual manual.
This manual is the loss control procedure.
The General Creation of a Loss Control Procedure Manual
This manual is an actual tool. This is a helpful tool to implement
into your operations and overall business practice.
You can create a loss control manual and provide it to your staff.
You can have a team meeting on this safety concern and even create a learning event around it.
This is an opportunity to create a program in advance of any safety issue.
Being proactive with safety, especially fire protocol is no joke.
Therefore, the next step should be in motion.
Execution of Safety Step
This next step involves execution of a plan, after you can have a planned program of action in place.
At this point, you will want everyone to review it. Gather ideas from everyone.
How you do this is through brainstorming and asking other’s opinions on the subject.
Sometimes a varied perspective on a topic can provide
further discussion and opportunities for resolution.
After all ideas, considerations, recommendations and opinions for the
most part have been shared the next step of direction would take place.
This is where you would then direct the staff to follow protocol,
which is for open discussion.
Protection in Numbers – Overview of Safety Measures
After having a room filled with open dialogue can elicit a favorable safety action plan.
All minds will understand the meeting points and functions required in a fire stressed situation.
A situation where it leads to levels of massive destruction and possible injury or death.
These discussions of action plans lay out a guided map in these type case scenarios.
This will help to recognize and eliminate any unsafe conditions, practices and procedures.
Creating Safer Working Environments
How do you create a safer work place? Great question, and usually is
answered through the many points mentioned in this article piece.
For example, having many eyes review a protocol fire safety plan is the first start.
This is because you will have many eyes looking at the procedure plan,
and helping to enact future safety working environments.
Purpose of the Safety Manual
The primary purpose of this manual is to help manage the creation process.
It will also be used to administer and evaluate the use of a successful loss control program.
It is no different than having a blue print in place. If will be the foundation for future
fire safety implementation. If this manual works properly in the event of an accident or
loss, then it would be highlighted and desired for all business operations.
If for example, a system malfunction did occur somewhere in the manual during an
accident, this loss would be used as a learning opportunity.
The reason being is, now alterations to this manual would be made.
These alterations would serve the safety of the public better, and this is how the
process of building a sound blueprint for fire safety occurs.
One Way Recommendations?
Even though these fire safety manuals are extremely beneficial, they are not mandatory.
This means there is no one fits all program or blueprint that you can order or buy.
There is collection of procedures, advice tips from industry leaders online
and through other media means that you can find.
If you are unsure about how to get help in this area, contact an insurance broker
They will understand exactly what you need to do to put a practical and functional procedure plan in place.
If they cannot specifically answer the question,
they can always point you in the right direction.
This will shorten any future communication delay
between you and your manual procedure safety plan.
It is not an uncommon practice for building and personal property
values to increase dramatically over the years, or decades.
As a part of your risk management program, you should have periodic appraisals in place.
These surveys should be conducted by a professional to check the
adequacy of your existing coverage for the property being insured.
This is very advantageous to have in place, or as business practice.
This type of initiative can protect future assets without loss.
Plus, having an actual appraisal, will remove any guesswork from coming
to a rational conclusion, about the amounts of insurance coverage.
Bottom line is, you know how much to insure your property and valuables
at, no assumptions, only accuracy.
So, not only does getting an appraiser useful to asses your coverage amount,
but it is also beneficial for having as a sound basis for a settlement, in the event of a loss.
It works on both ends of the insurance coverage spectrum, as you can see.
Contact Professional Advice
If you have any questions regarding this area, a good commercial insurance agent
can help or at least point you in the right direction.
Many of these commercial brokers have contacts over the many
years of being in the industry. This is through past experiences.
They may have encountered appraisers on past job sites, or through
the process of handling of claims.
Either way, a good commercial insurance broker, can be a valuable
resource in so many areas. So, when in doubt, just ask.
You would be surprised how easily your question can be answered
without any hesitation or technical malfunction. Also, they can help you find the best coverage amount.
You can use this same advice for the loss situation as well.
This is also a sound basis for settlement if loss should occur.
Seek professional advice on this channel of protection as well.
They both fall under the same insurance program.
Fire Control Program
Now, you have a firm grip on some of the safety precautions
you should take regarding fire safety protocol.
You knew this creation was set in the plan.
To afford the maximum protection against fire and other
related losses, a comprehensive fire control program should be in place.
Again, these are all recommendations and not mandatory.
You do not have to do these by law, nor are they mandatory under any system.
Now that we have that out the way, let’s move onto what exactly this control program is.
Purpose of Program?
It is used primarily for the assistance of local building and rating office inspectors.
It also helps with the fire marshal and insurance company fire protection engineer.
So, as you can see, there are many people involved in this process.
This is an intricate system of safety notifications. From the local level, to the actual fire engineers.
So, if this program can assist in this level of both safety and process,
you know it should be incorporated into your game plan when it comes to safety.
You can always determine the outcome or success of something, especially
if a track record already exist. In this case, a past does exist,
and it has a proven track record to assist on many different levels of government.
This is when you can measure past success, with future records.
Duplication’s of Records – Safety Recommendation
Here’s another fire safety recommendation and it involves the duplication of records.
When you think duplication, you think back up or the making
of two copies of some type of data or document.
You would be right to think this way, because it exists in the language of business.
For example, to reduce the impact of loss from critical business records,
source code, or other printed or electronic documentation, backups
of records should be a consideration in the safety process.
This is because with the advent of technology, comes those who want to use it for ill
will. These cyber hackers for example, can be reason for an internal malfunction of your entire server.
This server malfunction, now effecting your bottom line, has been the result
of a poor action plan when it comes to file maintenance and safety.
Backup everything, this is a common statement throughout it all.
Regardless if it’s on your desktop or in a file cabinet somewhere.
For your protection and your business future’s protection, always have a
secured backup file locked away. Just make sure you can get access to
it and it’s not in the same place where the main hub is at. Security reasons.
Act of Security and Safety
So, the act of getting these backups is not the only involvement of this process.
This second step, or more vital in certain scenarios, is the location where you will be keeping these backups.
Will you be storing them right next to the desktop that is being saved on?
This might not be the wisest thing to do.
Just think about it, what would happen in the event of a fire? It would burn not
only the mainframe of all your data, but now your copied record of all the work
that was saved. This does not sound like a good back up plan.
So, the bottom line when it comes to duplication is, to make sure to have a
good location base for your data, both tangible and electronic.
One will not work without the other, OK?
Commercial Welding Safety
If you have a welding or soldering operation, you should consider having this plan
in place. It is a plan where any operations of welding or soldering, should be in a designated area.
This makes sense.
You want to make sure there is no mixture of combustible materials or liquids.
This is achieved by having a designated area, where a watchful eye and safe zone is in place.
Gasoline Storage Safety
Just having the word gasoline in the subject line should raise some eyebrows.
This is because everyone for the most part, understands the risk
gasoline pumps can be if not operated properly.
If you have a gasoline shop, make sure all pumps are
visibly named and surrounded by protective walls.
Also, as another line of defense, concrete barriers. These
barriers would protect the area of gasoline pumps in case a vehicle
loses control and indirectly collides into the gas station.
These concrete barriers would defend against a direct impact, and causing
further hazard to both the public and employees of the gas station.
Storage Tank Safety
We have all seen storage tanks running down the road on the back of a big rig.
Some of these tanks are used for regular liquid or non-hazardous, while others are not.
These storage tanks are used for flammable or hazardous liquids. These
tanks have certain guidelines in place with the NFPA
and other relevant state and local standards.
So, these tanks used for flammable liquids or hazardous material should be constructed,
installed and maintained with these standards in mind and place.
Also, take note of any tankers that are over 10 years old.
They should be periodically pressured checked or,
equipped with a current detection for leaks system in place.
This way the system can monitor for any potential environmental pollution exposures.
Paint shots and operations are working with paint and ventilation issues.
Therefore, painting operations should only be performed in NFPA approved spray booths.
They will have determined the safety of the operation
and ensure no future safety concerns are on the horizon.
Also, if you have a painting operation, another technique would
to separate fire areas that include good forced aired ventilation.
This would also include explosion proof wiring and lighting,
since they all play in the same operation.
All paint and paint thinners should be stored in approved metal
storage cabinets. Also, they can be stored in a
separate storage room that includes a fire proof door.
Another safely guideline that should follow is to clean up any accumulation
of paint from over-spray. The paint cleans up helps to reduce any
possible accidental ignition from occurring.
This clean is a safety feature, and should be
implemented for the protection and security of your business.