16 Dec Eternity Insurance 2019 Christmas Newsletter
As we get ready to wrap up a great year at Eternity Insurance Services, we’re already thinking about 2020, and the moves that businesses can make to prevent costly mistakes. Our team of insurance experts are always ready to go the extra mile to help your business succeed, which is why we’re focusing on two key areas that can have a significant impact on the future of your company.
But before we dive into the information, we wanted to wish you and your family a very Merry Christmas and Happy New Year. From our team to yours, we hope you have a safe and healthy holiday period!
Risk Prevention Is The Key To Affordable Business Insurance
Having the right insurance policies in place is the first step in ensuring your business is protected in any situation. However, a set of policies don’t work if you’re not doing everything you can to minimise risk in the first place. Of course, the fewer claims made, the more affordable your premiums become. But it’s more than just money that’s saved by preventing risk. Downtime due to accidents, malfunctioning equipment or natural disaster can incur massive costs for a business. So, how can you prevent risk and protect your financial stability?
- Regularly maintain all equipment, machinery, tools and materials – Routine safety checks and servicing will help keep all of your assets running longer and prevent breakdowns.
- Keep a diligent housekeeping schedule – Slips, trips, hygiene hazards can cause costly accidents. Having a regular cleaning schedule to ensure your premises are well-maintained will help, as well as policies that cover things like spills.
- Ensure staff training is regularly updated – Everything from training on equipment to proper lifting techniques will help to prevent injuries that lead to expensive claims. It’s also essential to provide your team with the PPE, equipment and manuals they’ll need to put their training in place effectively.
- Check your physical security and employ CCTV, alarms and security lighting where necessary – Theft and burglary can be costly, so the security of your premises is important. Having these measures in place will also help to reduce your insurance premiums.
Of course, there are plenty of other ways you can begin managing risk in your business to lower your insurance premiums and protect your business. For more advice, our team will talk you through your insurance options and the measures you can take to minimise risk.
BYOD: Is Your Business Keeping Up With Industry Trends?
The way we work is changing by the day, and it’s becoming commonplace for employees to be using their own devices to conduct business. Bring Your Own Device (BYOD), is a simple way for companies to reduce their overheads and avoid having to invest in technology that is notoriously fast to depreciate. It also provides flexibility for staff to work from home, access their work emails and business systems on-the-go or at client meetings. It can quickly lead to increased productivity. However, BYOD has implications for your business that you need to consider.
Some of the most common are:
- Lost and stolen storage devices with sensitive information
- Weak firewalls and anti-virus software on employees devices
- People leaving the company with access to systems on their devices
The solution? If you do decide to jump on board with this new trend, there are steps to help minimise risk, including a robust policy and compliance and having professional indemnity insurance cover. This helps to protect you against any disputes arising from a data breach. An effective BYOD policy should include:
- Clear statements that also explain consequences
- Training programmes to address liabilities
- Required security measures when handling customer data
To talk through the implications for your business, get in touch with our team. We can help you update current policies, or put in place new policies to ensure you’re never caught unprepared.
Please visit our website www.eternityinsurance.com.au or give our friendly team a call at (02) 9261 1571if you’d like to update your policies or have any questions.