What is Risk Management? Many of our clients ask this simple question and we give them simple, easy to understand, answers. Risk Management is the process of assessing risks that a business may have and developing a plan to manage those risks. Every growing business needs to review their risk management plan periodically to make sure they can overcome any anything that might come their way. It is impossible to plan for the unexpected, but our team of experts comes close to it.
You might think that you know everything about your business and its market, but you shouldn’t try to undergo risk management on your own. You need to enlist the help of a professional.
At SOGO we’ve helped many clients create plans to overcome their business risks and we want to help you. We believe that you need to be informed when undergoing a risk management. Here are some things that you and your insurance agent need to consider:
Questions To Consider
- How many employees does my business have?
- Do clients visit my place of business?
- Do employees handle dangerous materials, such as construction or lab equipment?
- Is my business located in an area that is prone to certain dangers, such as tornadoes?
- How safe if your business building?
- Do my employees or clients have to travel often?
- Do any of my employees have disabilities, whether mental or physical?
- Does my business handle sensitive information?
- How much is my business worth?
- Has my business had incidents before?
At the end of the day, the most important question is: Is someone in danger of getting hurt on a daily basis?
You honestly might be able to answer this question. You can’t plan for every fire that might break out or every employee that might get into an accident while transporting goods, but a professional will be able to assess potential risks and create a plan that help you take one more step toward preparedness.
Once you have a plan in place to help manage your businesses’ potential risks, your next step should be making sure that your employees are protected. Don’t hide your risk management plan. Instead, ask for your employees’ input on how to make their work environment safer and pay special attention to their concerns. Again, your first priority should be protecting your employees and clients.