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Home » Services » Insurance & Safety Risk Management
Protecting your employees and most valuable assets
Staying in business is one of the most pressing challenges organizations face today. From fierce competition to disruption and the rapidly changing needs of customers, it is becoming more difficult to grow and sustain a business reputation and a customer base in an environment where trust and credibility are critical to success.
To survive, business owners are avoiding needless risks that could lead them to serious financial problems and finding appropriate solutions to inherent risks that come with running a successful business.
Committing to a higher purpose, organizations are also looking at creative ways to protect their employees, their most valuable assets, from workplace hazards, and creating suitable health and safety policies and frameworks.
In both cases, business owners turn to professional subject matter experts and consultants to help them understand their risks and accordingly recommend the right insurance solution that will prevent their businesses from potential financial losses resulting from any type of damage and liability.
Among the risks that business owners should look to mitigate:
cybersecurity and data hacks or other fraudulent activities that can disclose confidential information to untrusted sources.
such as floods, fire or any damage that can impact physical assets and cause financial losses
that address any vulnerability that can cause you to be held responsible for certain types of losses
that addresses risks associated with cargo or shipment of goods whether by sea, air or land:
associated with losses from accident, medical expense, disability, or accidental death and
due to malfunctioning of equipment and that can cause major damages and business interruptions
including physical or disease-related hazards that employees can experience on-the-job
an operational risk caused by fire or many risk factors, and that affects a company’s ability to function
Running a business is unpredictable no matter the size of the business, but putting in place a comprehensive business coverage and precautious planning can prevent major financial losses and help organizations focus on thriving in today’s ever-changing environment.
With our trusted insurance and risk management expertise, and our wealth of consulting and execution experience, we help you identify potential threats to your business and accordingly put in place your specialty insurance plan to help you source the optimal coverage to mitigate your risks and preserve the health and safety of your employees, your property and your business continuity.
Whether you are looking to audit your already in place insurance policies or you wish to run a full risk assessment on your business to identify potential hazards and find solutions to mitigate those, our subject matter experts can help you link all aspects of the business to put in a place a comprehensive, loss-preventive solution to protect your business from potential threats and position it for long-term success.
Using our specialty insurance expertise, we help assess and analyze your business and recommend the most suitable insurance coverage and protection solution against all potential hazards while keeping your policies up-to-date in line with your business changing needs. Our expertise includes all commercial insurance types from Property all risks and engineering insurance, medical, life, personal accidents, travel and workmen compensation, marine insurance, liabilities, and other insurance services.
To minimize your exposure and prevent damages from risks such as fires, explosions, water, loss of market shares and profits, we work with organizations to set up a risk management framework where we identify the business exposure to existing or emerging risk factors and accordingly recommend the right risk management strategy to help you improve risk controls which in turn can reduce insurance cost. Our expertise covers the full spectrum of business risk from best practice advice through operations and strategic challenges.
As we focus on the risk management culture, we can also help you set in place a health and safety program to safeguard the wellbeing of your employees. We not only carry-out recommendations, field audits, and compliance follow-ups, but we also help in instilling the occupational health and safety culture and help train your employees on safety standards to protect their well-being.
ChallengeNo system in place to identify, assess, manage and monitor risks hindering the organization. Lack of optimal match between potential risks and insurance policy coverage. Lack of awareness on critical occupational hazards. Lack of health and safety program to protect the well-being of employees. Lack of comprehensive insurance policy to address the full business spectrumSolutionWhen the insurance and risk management framework was established, it enabled INDEVCO top executives to have a centralized visibility on the group’s insurance policies and the hazards that were addressed. As the aim was to prevent and reduce financial and other types of losses, intensive field audits were set in place to help the group of companies identify other potential hazards across all facilities and geo locations and proactively address them within the set insurance policies.
The framework also helped in ensuring the set policies were in line with worldwide international standards as well as appreciated by top insurers and re-insurers.
On another hand, the group benefited from a full occupational health and safety program that created awareness among employees and trained them to safely run their daily routine. A communication system was set in place to better report on near misses and other incidents. Read the full case study >
Critical Risks Impacting the Manufacturing Industry: Is Your Company Covered?