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It is an unfortunate fact but unforeseen events do occur which cause:

  • Injury
  • Loss
  • Damages to your property
  • Damage to 3rd party

One way to mitigate these risks is through Insurance which is the transfer of risk.

Another way to mitigate risks is having a robust risk management programme in place.

A simple explanation of what Risk Management is:

  • Identifying hazards
  • Assessing those hazards (how dangerous they are)
  • putting steps to in place to reduce those hazards
  • continuous Monitoring of those hazards, training and acting when there are issues
  • Providing training to staff and continuous support to manage the hazards
  • Documentation

The benefits of a Risk Management Programme include:

  • Protect staff and customers
  • Protect the Company’s brand and reputation
  • Protect the assets of a company
  • Improve efficiency
  • Reduce the risk of claims
  • Reduce Insurance costs
  • Reduce the cost of claims

Insurance companies love to see evidence of a strong Risk Management and will offer discounts on premiums if they see a structured, management supported and documented risk management programme. The courts also love to see documentation in the unfortunate event of a claim.

At Orbital insurance, we can help advise you on your Risk Management programme. We know what works and what insurers look for.

We partner with Risk Management specialists and work with them to offer continuous advice and a partnership approach to reduce risk and reduce costs.