We meet new and existing clients daily to help evaluate business management risk and identify risk appetite.
The critical question we ask is:
What level of risk are you prepared to take when making operational decisions in your business?
Our risk discovery journey helps you use financial data, strategic growth plans and current operations to determine the level of risk your business can afford.
What is business management risk?
Business management risk looks at the factors that expose your senior management team to legal action. Unfortunately, in today’s litigious environment, no business relationship is free of risk.
Therefore, it’s vital to consider your dealings with other parties, including employees, suppliers, investors, competitors, customers, government agencies, regulators and creditors.
While you may feel that you have strong relationships with internal and external parties, they have the potential to cause harm to your business at any time.
Thus, it’s critical to protect your business against the costs of any legal action taken against you, your directors, or the business.
Types of business management risk to consider.
There are different types of business management risks to consider, such as:
Today, we’ll focus on defamation and why you should protect your business against legal action.
Does your business make comments about clients in emails, in office conversations or whilst out at coffee in public venues?
You never know who may be listening or their connections to staff, suppliers or investors.
So, why does it matter? It matters because it can lead to legal action against your company or directors to repair damage to their reputation.
Unfortunately, it happens, and a court case’s outcome can be costly.
How can Clear Insurance help you?
Firstly, we use over 65 years of combined general insurance knowledge to help you evaluate business management risk.
Secondly, we work with you to build your risk profile so you can decide whether to keep, mitigate or transfer risk to insurance.
We’ll evaluate your existing insurance programs to help streamline policies, align renewal dates and make recommendations to address critical gaps in cover.
Finally, with our fee-for-service approach, you can feel confident that our fee is calculated based on the insurance services you receive. Plus, it reduces the taxes payable on your premiums.
Contact us today to see how we can help.