What are the benefits of risk management for your business?

Risk management is a service that we provide for our clients free of charge, in partnership with leading insurer Aviva. Risk management exists to evaluate your business and its exposure to potential risks, putting in place the suitable health and safety measures to help counteract them, much to your company’s benefit.

It is in the best interest of your business for you to do everything in your power to avoid the event of an accident from occurring in the first place. However, you can’t put in place sufficient safety procedures without knowing exactly what risks are facing your business; that’s where our specialist risk management comes in. In partnership with Aviva, we provide advice, training, consultancy and access to online guides on a wide range of business risk issues and will work with you to make your business as risk-free as possible.

What are the benefits of risk management?

Helps prevent accidents

Business insurance may help cover you for the potential financial costs of a claim, disaster or accident, but physical costs can never compensate your business for the serious long-term impairment, or at the very worst death, of an employee, client, or member of the public as a result of your business activity or unsafe premises. Risk management can help you greatly reduce the risk of an accident before it ever occurs, protecting your workers both physically and emotionally.

Preserve your reputation

A reputation takes a lifetime to build and a second to lose, and the hidden costs to your businesses' reputation as the result of an incident can be massive. Risk management will help you protect your businesses’ reputation by greatly reducing the risk of an incident occurring that could significantly damage the reputation of yourself and your business.

Cutting risks can save money

Many hidden costs often required in the fallout of an accident at work may not be entirely covered on your business insurance policy. These include legal fines, rectifying a loss of reputation, overtime, sick pay and investigation costs; risk management will help you make your work a more safe and healthy work environment for your staff, meaning potentially less required sick pay for your business, alongside other potential costs covering an accident.