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The CM Makeover
Page 56
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A savvy operator will already have done all they can to make their business more attractive to insurers. They will, for instance, have a good broker who understands their particular market and sells their company as positively as he can to insurance providers. They will also be compliant with the law in all areas that affect them and have checked their policy scrupulously to weed out any unwanted cover extensions that add unnecessarily to the premium.
Even if you have already done all this, there are further measures you can take to make your company more attractive to the financial risk community and save yourself cash.
Insurers' key criteria for a low-risk company include sound management that takes practical and consistent steps to minimise its risk; drivers who are qualified, responsible and experienced: and demonstrable systems that support and enhance these efforts. But it doesn't matter how good you are: if you can't prove these things to them. it won't count.
Insurers like details, and these are some of the ways you can make yourself a more attractive candidate. •