Posts

Top Reasons Why Workplace Safety Is Crucial In 2020

/in /by

StrategyDriven Risk Management Article | Top Reasons Why Workplace Safety Is Crucial In 2020

Everybody desires to work in a protected and safe environment, making workplace safety a priority. In the US, 5,250 people died from work-related injuries, but the figure is expected to reduce by the close of 2020 due to the pandemic. This is why employees and employers are expected to take precautionary steps to ensure safety at the workplace – as everybody benefits from workplace safety. How have you created a thorough safety protocol for your employees? Here are some reasons why you should.

1. To limit a resurgence of the pandemic

Across the world, there has been a worry of a possible resurgence of the COVID-19 pandemic. This is why employers should ensure that they do their part in preventing such an occurrence from happening. Ensure that your employees follow the safety protocols highlighted by WHO. Be sure that employees showing symptoms of the virus are isolated from a healthier workforce. In doing so, you can play a part in limiting an insurgence.

2. Statutory office inspections by government health officials

Formal office inspections are carried out in different ways, depending on your form of business. They range from safety tours to samplings, surveys, and incident inspections. The first deals with the general inspection of your office. Safety sampling is a systematic approach to specific risky activities or workplace areas. A survey is similar to safety sampling; however, it focuses on a general overview of dangerous processes and activities.

An incident inspection is only carried out by health and safety authorities after a workplace accident, injury, or death. In some instances, it may be required when an employee reports a case of ill health to the enforcing authority, based on negligent office processes. These checks are increasing this year, and you do not want to be in any trouble.

3. To reduce liabilities

A safe work environment would prevent you from being held liable for injuries or other health wrongs. For example, Walmart got sued for a wrongful death lawsuit when two of its employees contracted the virus and died from complications. Every step necessary must be taken to prioritize health and safety so as to prevent such lawsuits. For example, if you work in an office with long-standing water pipe issues, you should seek services such as Water Mitigation from HL Restoration to resolve these problems and avoid getting sued for putting staff at risk. No company wishes to be slapped with such a suit.

4. Continually changing data

Data on the Coronavirus disease changes every day, putting more burden on research and safety professionals. As scientists learn more about COVID-19, businesses become better equipped to handle the crises and its ripple effect on operations. With a second wave threatening the United States, it is quite challenging for companies to forecast correctly. As a result, they need to be extra careful while adhering to all protocols set out by the WHO and CDC.

The world is moving into new trajectories, especially concerning health and safety. Follow these tips to ensure that your company is not left behind.

Top Considerations For Businesses’ To Staying Safe Online

/in /by

Cybersecurity, from a business’s technological point of view, is essential more than ever simply because it is more prevalent to have parts of the company that would need the use of the world wide web. From emailing different departments to accessing documents over the network or cloud services, to businesses that use the web for communication and engagement with clients and customers. In today’s standards, modern-day business ranging from all small, medium, or large scaled enterprises, will need to be even more vigilant and incorporate web technologies, along with safety and cybersecurity, as part of the business framework and will need to adapt protocols or procedures to make sure of workplace safety and that the company and its assets are protected.

StrategyDriven Risk Management Article | Top Considerations For Businesses' To Staying Safe Online

Network administrators are usually the go-to department for medium and large enterprises and corporate entities, that will be in charge of keeping the workings of the internet of things functional and performing to the best standard for the company. Ranging from the creation of user accounts, privileges, and to monitor software and traffic coming into the business network, to port monitoring and implementing software installation and updates were needed on the different devices, around the business. But for a small business, cyber security may be more doable with being confident and its capability to deploy its own procedures that can help protect the presence of the company when being online.

Here are a few things to consider for any business whether small, medium or large, that would be generally good working practise to adapt within the online procedures, to protect the company from threats from online.

Firewalls

Firewalls are a security system that will monitor all the network traffic and the software that will run through the ports on the network. Generally, Firewalls are the first port of call when protecting the network from numerous types of attacks, but there are other things that can help reduce this risk even further.

VPN’s

Meaning Virtual Private Networks can be implemented to further the security of data transference across the network, especially if the business network needs to communicate to the wider web, which is untrustworthy, to complete tasks. Firewalls and VPS’s can come in software but also can be found in the router settings for some brands.

Virus Scanning Software

When a company has its work that is primarily sorted out on a device such as a PC, or even have the use of services such as emails and Voice Over Internet Protocol communications, it is usually a good idea to make sure that there is a Virus Protection element implemented, to minimise the chance for viruses or malware that can compromise your data and business logic, even data breaches.

PC Procedures and Conventions

The idea for password conventions and procedures is to educate and train company users and employees to have a decent basic understanding of what is to be expected by them, in order to contribute to the security of the company. Such as passwords not to be shared, and created with an uppercase, inclusive of numbers and a special character. That they should not be allowed to plug personal devices or even log into private email accounts while working on the companies PCs.

Being secure and safe online is an important focal point for many businesses, these points mentioned here are a few generic ones to be considered. What do you include as part of your way of keeping the company safe online? Let us know in the comments below.

Strategies for Overcoming Crisis in The Hospitality Industry

/in /by

StrategyDriven Risk Management Article | Strategies for Overcoming Crisis in The Hospitality IndustryEvery organisation is likely to face a crisis now and again. Significant problems may arise once or twice a year, with smaller issues appearing sporadically in the time in between. Predicting what a crisis will entail is impossible in many situations – but it’s how a team prepares and responds that can dictate whether and to what degree a business recovers.

The Covid-19 pandemic is one obvious example of an uncontrollable crisis affecting almost every industry in one way or another. While many wise businesses will have a crisis management strategy in place, it’s a situation few could have directly planned for.

The hospitality sector has been among the hardest hit. Unfortunately, it’s also likely to feel the situation’s impacts the longest due to ongoing social distancing rules and a consequential reduction in demand and revenue.

Sales slumped by 87% in the second quarter of 2020, and despite tentative signs of recovery, over half of small business owners in the sector fear the pandemic will force them to permanently close. The situation has forced many to pivot their approach in order to survive – but effective crisis management could allow some to emerge stronger.

Below we discuss other uncontrollable factors the hospitality industry faces, as well as the strategies businesses can implement to overcome them.

What uncontrollable factors affect the hospitality industry?

The aforementioned Covid-19 pandemic has severely impacted what is perhaps the primary uncontrollable variant for the hospitality industry – flow of tourism.

Accommodation providers, food and drink establishments and other leisure facilities all rely on visitor numbers, but tourism can be fragile even in the best of times. Weather, political events, area decline and the arrival of competitors can all lead to unpredictable cashflow and a variety of other challenges from one season to the next.

Another variant looming large over the sector is Brexit. The hospitality industry is a large employer of migrant workers, but new regulations are likely to lead to problems with labour availability. It remains to be seen whether abolishing freedom of movement will also turn international tourists away.

Strategies for overcoming uncontrollable crises

Periodically reviewing plans is one important strategy for managing crisis. By building in trigger points to assess factors such as operational and market performance as well as basic financial metrics, a company can assess whether a long-term plan is still fit for purpose. In light of some of the events discussed above, this process can be vital in adjusting to new parameters to keep a company on track.

There are other practical steps that can be taken to prepare for the eventuality of a crisis. Taking out hospitality insurance with Gallagher for example can protect against damages to a commercial property or other unforeseen disruptions.

When such a situation does arise, establishing an effective solutions team allows a business to focus the right people on the task in hand. Members should have a clear understanding of their roles and ideally some of their typical responsibilities will be delegated. Electing forward-thinking individuals will help generate the most positive and proactive response.

With a crisis management team in place, wider communication is essential in keeping everyone working towards the same goal. Creating a clear ‘change story’ that all workers can understand and get behind – from front of house staff to board members – can be an important step in establishing a collective sense of urgency.

The hospitality industry is undoubtably facing a crisis right now – but with the right team and strategies in place, many will already be on the road to recovery. If you have any additional insights, please feel free to share best practices in the comments section below.

Figuring Out the Best Way to Get Your Business Insured

/in /by

StrategyDriven Risk Management Article | Figuring Out the Best Way to Get Your Business Insured

40 percent of businesses don’t reopen after a disaster. That’s the bad news.

The worst news? We’re in the middle of a disaster. The COVID-19 pandemic is taking the economy to the cleaners and leaving many small businesses on their death bed.

The good news? As a business owner, there are steps you can take to protect your business from foreseen and unforeseen disasters. One such step is to purchase adequate commercial insurance.

This sounds easy and straightforward, but it’s not. You must find out the best way to get your business insured; otherwise, you could end up underinsuring or even over-insuring your company.

Continue reading to learn how to go about insuring your business.

Identify and Assess Your Risks

Every business faces a wide range of risks.

Some risks affect all kinds of businesses regardless of their industry or niche, and others only affect certain types of businesses. For example, owners of medical practices face malpractice risk. Restaurants don’t face this kind of risk.

However, both businesses do face a fire risk. An electric fault can result in a fire that razes down the buildings that house both businesses.

As such, the first step to insuring your business adequately is to identify all the risks it faces. You can do this on your own or you can hire a risk assessment professional to help you.

If you’re hiring a professional, ensure they’ve got enough industry-specific experience. If you own a logging business, for example, an industry risk specialist is in a better position to identify logging insurance risks than a risk pro who specializes in the retail industry.

After identifying all your risks, assess their threat-level. Which risks pose a more imminent threat? Which ones are less likely to affect your business?

Next, what amount of damage is every risk likely to cause?

With a proper risk assessment, you’ll know the amount of coverage you need to protect your business.

Determine the Kind of Insurance Policies You Need

Wouldn’t it be awesome if insurance policies offered a blanket policy that covers all the risks your business faces?

Well, some large insurance companies offer customized policies, but it would rarely be a blanket policy. Also, there’s the general liability insurance policy that covers most of the risks your business faces, but it’s barely adequate on its own.

Yet, a common mistake small business owners make is purchasing general liability insurance and stopping there. Don’t make this mistake.

There are several other types of business insurance policies you should buy, depending on the nature of your business. Here are some of those policies:

Property Insurance

If you run a brick and mortar store and you own the building, purchase property insurance.

Your building faces a number of risks that can result in extensive damage. Fires and natural disasters, such as floods and windstorms, can destroy the building, forcing you to abandon it until repairs are made.

A property insurance cover will compensate you for the damage and other losses.

If you run a home-based business, you might want to add on to your homeowners’ insurance policy, so that it covers your commercial activities as well.

Business Interruption Insurance

You don’t need to look beyond the coronavirus to see how a disaster can disrupt your business operations.

During such times, business interruption insurance is your ally. Depending on the terms of coverage, the insurer should compensate you for the losses you make during the interruption period.

Workers’ Compensation Insurance

Do you have more than 3 employees?

In most states, that’s the requirement for purchasing workers’ compensation insurance. When an employee gets injured on the job, you won’t worry about compensating them for their medical expenses and other losses. Your workers’ comp provider will do that.

Cybersecurity Insurance

If your business has digitized some or all of its operations, it’s imperative to buy cybersecurity insurance.

43 percent of online attacks now target small businesses like yours, which means your risk level is high. A cybersecurity insurance policy will protect your business from the effects of an attack, including business interruption and data loss.

Other types of insurance you might need include product liability insurance and commercial vehicle insurance.

Find the Best Insurance Provider

You’ve probably heard horror stories of insurance companies that refuse to settle claims. If you don’t do your homework when looking for an insurance provider, you might end up telling such stories.

You want to work with a legitimate, reputable insurance company.

Read up online reviews about a specific insurance carrier before giving them your money. What are past and current clients saying about their service quality? Do they take forever to settle valid claims?

Also, you want to work with an insurance company that provides most, if not all, of the insurance policies your business needs. This way, you’ll be in a better position to negotiate for discounts when renewing your policies.

Consider Self-Insurance

Large corporations don’t typically purchase insurance from other companies. They self-insure, simply because they can afford to cover their risks from their deep wallets.

Self-insurance isn’t just for big companies, though. Even small businesses can develop a self-insurance plan, as long as you know how to go about it.

One effective way is to set up a captive insurance company. This is just like any other insurance firm, only that it is wholly owned by your parent business. You have complete control over its operations.

Get Your Business Insured the Right Way

Getting your business insured adequately can be a costly task, especially if you’re a small business running on a tight budget. However, it’s the right thing to do. Even a minor disaster can bring your business to its knees when you don’t have insurance.

With this guide, you now have the information you need to insure your business the right way.

Keep reading our blog for more business tips and advice.

Is hiring an attorney is necessary after a car accident?

/in /by

StrategyDriven Risk Management Article |Car Accident|Is hiring an attorney is necessary after a car accident?Car accidents are the most distressing thing that could happen to a person. A minor mistake can cause severe injuries and irreparable harm. It may also cause various damages and inconveniences. In case of a car accident, you might think that it’s not a big problem and you can deal with it by yourself, or you can go now to an expert’s website and see the many reasons to hire an expert attorney who could help you in solving the issues related to the car accident.

What is the right time to hire an attorney?

If you got a car accident in Texas or any other State, don’t feel that you are unlucky because there are several car accidents reported. According to research in 2015, more than 151,000 car accidents happened in Texas, resulting in about 23,000 injured and more than 600 people lost their lives. Some of the car accidents were more worsen as compared to others but most of the victims think that their insurance company will help them and pay for the valid claim. Unluckily, this doesn’t happen in all cases.

The insurance company would try to find conflict because they are working for making money. The main motive of the insurance company and its representatives is to solve the issue at a minimum amount of compensation. You can consider their motive improper or contradictory. If they pay a huge compensation amount to every victim, they can’t do their business in profit. The insurance company doesn’t take your interest into their priority list, therefore it doesn’t offer a fair and full settlement amount unless you have an expert lawyer for your case who will protect your right vigorously. All the help you need on your Truck accident case is here at bendominguez.com

The insurance company can do two things to undermine your claim. Firstly, their representative will try to make you plead guilty to the accident so that they can reject or lessen your claim. This is one of the main reasons to avoid insurance agents or testify without consulting your attorney. Another thing is that the insurance company will try to make you agree on a quick settlement amount which is less than your case costs.

Why it is best to hire a Texas Car Accident Attorney?

Although Texas is a state where the ratio of car accidents is very low, if you don’t understand the State laws about compensation, a car accident could be a difficult case for you. There are various deadlines for filing a personal injury and property damage claims, as well as rules for guilt. The Texas Department of Insurance says that you can file a health or personal injury claim under the following conditions:

  • Medical expenses more than $1000 due to the injuries
  • Any bone fractured
  • Permanent injury or permanent disfigurement
  • Death

When you face a car accident, the period after the incident is probably full of anger and uncertainty. You not only need medical care, but you also suffer the loss of work and you have to pay the cost of repairing your vehicle. Here are some other reasons to hire a Houston car accident lawyer, San Antonio car accident lawyer, or Kansas City car accident lawyer earlier:

  • An expert attorney has complete knowledge of the law. Your car accident lawyer will have the intimate knowledge of the Texas laws and rules that pertain to your case. This is the main advantage of hiring an attorney because this is the reason your insurance company uses to undermine your claim.
  • An attorney will help you with your work. Filing a lawsuit and settling an insurance claim needs a lot of work to be done, particularly if you have been injured. Your attorney’s legal team can help you in collecting all the necessary documents for your case as well as file the proper paperwork for any necessary court appearance.
  • A professional Lawyer. If a lawsuit becomes compulsory, your lawyer will negotiate with the insurance company and will also represent you before the judge and jury.

Look at a personal injury attorney whom you can trust

However, choosing a personal injury car accident lawyer is a personal choice, although, a small accident can result in a serious financial loss that will all the conditions to file a lawsuit, and you cannot depend on the insurance company to do something for you. Hiring an expert attorney will give you relaxation from a stressful situation.