EXPECTING THE UNEXPECTED: 5 THINGS TO DO TODAY, SO YOU’RE PREPARED TOMORROW
HMD Insurance
Insurance and risk adviser, committed to building long-term partnerships and delivering perpetual value to our clients.
It’s impossible to predict or prevent every type of loss event. But you can be prepared for it with these 5 important steps.
1. VALUATION
Conduct a thorough valuation of your business assets, either yourself or by engaging a trusted independent valuer.
2. LEGISLATION
Keep up-to-date with the latest legislation and regulatory changes, including things that impact your industry directly, but also Australian businesses in general.
3. INFORMATION
Read your current insurance policies, making sure you understand exactly what’s covered, what isn’t and where your biggest risks might be. If you’re in any doubt, get in touch!
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4. RISK MANAGEMENT
Review your risk management plan to ensure it is current and the main risks identified and evaluated in terms or severity and frequency. Are the risk management controls still working? Finally, for the larger financial risks such as from storm, fire or burglary, is the insurance cover adequate. ?
5. DELEGATION!
Too much to do, and not enough time? Don’t put these things off. Delegate them to trusted members of your team and get them to report back with updates each quarter.
If you would like to obtain further information, please contact the team at HMD Insurance to discuss your individual needs.
Important Information
This communication including any web links or attachments is for information purposes only. It is not a recommendation or opinion, your personal or individual objectives, financial situation or needs have not been taken into account. This communication is not intended to constitute personal advice.?This type of insurance product is designed for small and large businesses, that want to be covered against financial loss relating to accidents or personal injury involving contractors or sub-contractors.
We strongly recommend that you consider the suitability of this information, in respect of your objectives, financial situation and needs before acting on it. This document is also not a Product Disclosure Statement (PDS) or a policy wording, nor is it a summary of a particular product’s features or terms of any insurance product.?If you are interested in discussing this information or acquiring an insurance product, you should contact your insurance adviser to obtain and carefully consider any relevant PDS or policy wording before deciding whether to purchase any insurance product.
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