Small Business Insurance: What You Need to Know

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StrategyDriven Risk Management Article | Small Business Insurance: What You Need to Know

Designing and creating products. Marketing. Selling. How no day is the same. There are many exciting aspects about running a small business. Yet beyond those fun points, the ones that get your creative juices flowing, there are those not-so-entertaining elements.

Business insurance certainly falls into that latter category.

While it may feel like an unimaginative, irksome part of running a business, make no mistake: business insurance is essential. Failure to have the right insurance in place could cause major issues for your company down the line.

To prevent that, here’s what you need to know about small business insurance.

The Insurance Essentials

No business is the same. As a result, your insurance needs will be different from others – even companies you are competing against directly. This is because there are numerous factors which go into the type of coverage you require. These factors include:

  • Business turnover
  • Number of employees
  • The industry you operate in
  • Your business premises (if applicable)
  • If your business directly deals with the public

Once you have noted down these aspects, you are in a better position to select the right insurance options for your needs. For example, if you deal with the public directly – this could be visiting a customer, being visited by a customer, or conduct work in public – you will have to purchase public liability insurance.

Getting Advice From a Financial Advisor

As a small business owner, it can be difficult to try and figure out exactly what insurance coverage is necessary. Ultimately, you want to be fully covered – even a small oversight could end up costing you.

This is why it’s highly recommended to seek advice from a financial advisor. As Grand Life Financial notes, an experienced financial advisor is capable of helping in many different areas – including insurance. With their knowledge, they will be able to figure out what is necessary for coverage. They account for how your business functions, using this information to decide on the right insurance package.

While you have to spend money on this advice, it can save you in more ways than one in the future.

Find an Insurance Provider

If you don’t have a financial advisor pointing you in the right direction, you’ll have to select an insurance provider for your business. This isn’t an easy decision. There are many insurance companies available, so there are various points to think about to pick the right one for your business.

You’ll want to compare prices and, in the best case scenario, pick the most inexpensive one. Yet you also have to look at each provider’s experience and credibility.

What Happens if You Don’t Have the Right Insurance?

A lack of insurance can lead to you paying out significant sums of money to cover your liabilities. That’s the last thing you want when you’re a small business where profit margins are generally small. Yet it’s not just financial damage that can be caused. You could face lengthy legal processes, and these can be stressful and damage your company’s reputation.

6 Malware Removal Tips for Mac

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StrategyDriven Risk Management Article | 6 Malware Removal Tips for Mac

As secure as Apple devices are, unfortunately, there’s no guaranteed way to ensure that they won’t fall foul of malware sneaking its way onto your devices from time to time. For those with Macs, it can be especially important to thwart unwanted attention and you’ll likely want to ensure that your device stays clean and free from harmful malware, so let’s take a look at what you can do.

What is malware and what can it do?

The term malware can be applied to specific types of viruses that hackers use to gain access to your Mac and perform functions to get to specific information to meet their needs. This could be stealing your personal information for dodgy dealings (or to sell on to third parties), reaching and exploiting secure financial data, or even holding your device for ransom for instant monetary gain.

The bad news is that malware can be picked up simply by using your Mac for everyday functions – and its effects won’t always be immediately apparent. According to Apple, one of the easiest ways for spyware, trojans and malware in general to make their way onto devices is via Ads. Although these adverts are harmless by nature, they do use tracking cookies, which can open you up to attacks as hackers collect information on who you are and what you look at. There are even times when doing nothing more than clicking an ad that leads to an infected site can cause issues, but the good news is that there are steps you can take to minimise malware taking hold or stop it before it has the ability to get too far.


2 common signs of malware and how to remove it

Here are 2 ways that you can spot malware and remove it safely:

1. Browser extensions  

The majority of malware will be installed via the internet and can come in the form of extensions. As these can be fairly obvious (you should know what you have and haven’t installed yourself), you should be able to spot them and either delete them or use third-party malware removal software to remove them safely for you.

2. Log-in-based malware

Certain types of malware will kick in when specific apps launch on your operating system upon startup. Malware can infect both necessary and leisure applications and even present themselves as apps that actually have no substance outside of performing negative functions. To determine if malware is using login protocols, check login items, how often they are triggered and if these launches are necessary, then disable any that you can’t account for or aren’t relevant. Again, anti-virus software can help to make this process simpler.

Preventing attacks

While manual scans and tasks can help to keep malware at bay, it’s no secret that dedicated anti-virus software can run in the background and prevent these items from making their way onto your Mac device before they have a chance to do any real damage. They also make finding and deleting unwanted items faster and easier. As there are plenty of these types of tools out there, simply do some research and select the one that suits your needs best.

6 Steps to Prevent Construction Site Theft

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StrategyDriven Risk Management Article | 6 Steps to Prevent Construction Site Theft

In the construction industry, projects may take up to months or even years to complete. It is common to leave work equipment and tools at the site. While the areas are left unsupervised in the evening after everyone leaves, construction and building materials can be stolen from the sites by anyone, more so heavy equipment. Construction site theft is a significant problem for companies in the industry. Statistics reports show that nearly $1 billion is lost annually through construction site theft with less than 20% of the stolen equipment recovered. With the broad range of risks, investing in a robust site security strategy is essential to combat theft and help you mitigate a potential financial loss. Below are ways your business or company can keep your critical equipment safe.

Install Strong Walls and Fencing

Putting up a fence creates additional security around your construction site keeping your equipment safe. Fencing may not keep everyone at bay, but having one entry point may ensure that only authorized personnel can enter the site.

Lock Away Tools and Materials

Ensure all tools and materials are securely locked in safe storage space, especially for small hand tools. Leaving your items sitting around anywhere is quite tempting, especially if you have to use them again the following morning but do not fall into that temptation. Store your equipment nicely after use to lower the chances of them missing.

Invest in Commercial Security Systems

Camera and video-based surveillance systems that provide a visual of the construction site are excellent solutions. The system should be specially designed for your site to allow constant monitoring for accidents, vandalism, or theft. Ensure your video surveillance is supplemented with audio analytics and motion detectors to alert virtual or on-site security personnel of potential intrusions.

As you install your security cameras, ensure they are positioned in a way that gives you a clear view of your entire site. In addition to the surveillance system, an intense alarm is vital in creating secure construction sites and preventing theft. Modern alarms are mobile and wireless, making them easy to install. Alerts can be sent to your smartphone by the providers. Alternatively, the providers can assess the nature of the breach and can alert the authorities or you. Hiring a trained security guard to keep an eye on your site makes it more secure.

Put up Signs

Simple signs like ‘’No Trespassing’’ OR ‘’No Unauthorized Personnel’’ can prevent unauthorized people from entering your premises or site. Ensure the signs are visible during the daytime and nighttime. For easier visibility of the signs indicators at night, ensure adequate lighting around them and generally around the site.

Keep a Record of All Purchases

For every piece of equipment used on the site, ensure you have a detailed record, including the serial numbers. Should there be a theft, the documents make it easier for you to file a report with the police and law enforcement to recover your items. Additionally, it makes it harder for someone to resell your equipment.

Track Your Tools

Label your equipment correctly and put a tracking device, especially the costly machinery and tools. QR codes are a practical and straightforward option, but you can also use a microchip tracking system that is a little sophisticated. Both features allow you to manage your tools on a smartphone. The tracking system is crucial if you have to claim insurance in case of burglary.

Final remarks

No construction site is entirely immune to burglary and theft. Several ways can help you prevent theft at your site, and the above are just some of them. Go ahead and implement them and make sure theft prevention at your construction site is effective.

The Importance of Workplace Safety: A Guide for Employers

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StrategyDriven Risk Management Article | The Importance of Workplace Safety: A Guide for Employers

Workplace safety is a critical concern that affects both employers and employees. Ensuring a safe and healthy work environment is essential for preventing accidents, injuries, and other incidents that can have severe consequences for workers and organizations. Accidents and injuries in the workplace can lead to lost productivity, increased costs, and legal problems, making it essential for employers to take proactive steps to promote workplace safety. To effectively prevent accidents and injuries, employers must implement effective programs and practices designed to identify and mitigate risks, provide training and resources to employees, and encourage a safety culture. Employers can protect their workers, reduce risk, and improve their overall safety performance by investing in workplace safety.

The Role of ISN Compliance in Promoting Workplace Safety

ISN Compliance is a program that helps employers ensure the safety and compliance of their contractors and suppliers. Developed by ISN, a leading provider of supply chain risk management and compliance solutions, ISN Compliance includes a range of tools and resources that help organizations identify, assess, and mitigate risks in their supply chain. To participate in the ISN Compliance program, contractors and suppliers must complete training programs, pass assessments, and follow specific policies and procedures.

The requirements of ISN Compliance are designed to help contractors and suppliers meet the highest standards for safety and compliance, which can positively impact workplace safety. By ensuring that contractors and suppliers meet these requirements, employers can reduce the risk of accidents and injuries on their worksites and protect their workers and the public.

Implementing an Effective Workplace Safety Program

To promote workplace safety, employers need to implement an effective workplace safety program. This can involve various steps, including identifying potential hazards and risks, establishing safety policies and procedures, and providing training and resources to employees. Employers should also consider implementing safety technology and equipment, such as safety guards and barriers, personal protective equipment, and emergency response systems.

There are also several best practices that employers can follow to maintain a safe work environment. These include conducting regular safety inspections and audits, promoting safety awareness and education, and encouraging employees to report hazards and incidents.

Managing and Monitoring Workplace Safety

Employers can use various tools and resources to effectively manage and monitor workplace safety. These may include safety management software, incident reporting systems, and safety training programs. ISN Compliance can also be vital for tracking and improving workplace safety. It provides a range of resources and support for employers looking to reduce risk and improve compliance in their supply chain.

Workplace safety is an essential consideration for any organization, as it directly impacts employees’ well-being and the business’s overall success. By implementing effective workplace safety programs and utilizing resources like ISN Compliance, employers can take proactive steps to protect their workers, reduce the risk of accidents and injuries, and improve their safety performance. In addition, these efforts can lead to several benefits, including increased productivity, reduced costs, and enhanced reputation. Therefore, investing in workplace safety and compliance programs is a smart business decision that can pay dividends in the long run. Employers who prioritize workplace safety and compliance will protect their workers and reduce risk and position themselves for continued success in a competitive business environment.

How to Maintain a Secure Business Premises

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StrategyDriven Risk Management Article | How to Maintain a Secure Business Premises

Security is crucial for commercial business premises. Even if the business is located in a low-crime area, it is important to secure the premises out of hours, and if you operate in a sensitive field, 24/7 security might be needed.

There are lots of options to consider, depending on how much security you need. Read on for a guide to the main things to look at.

Fencing

Perimeter fencing is important. This can be decorative as well as secure, so don’t assume one negates the other. Think about the level of security you need before hiring a commercial fencing Chesterfield contractor.

Do you store expensive equipment on the site? If so, the fencing needs to reflect this. Look at security fencing that offers superior strength, such as chain link fencing or decorative steel fencing. Anti-climb fencing is useful if you want to deter people from climbing over it.

You may also need fencing to keep people from straying into some areas of your site.

Gates

Gates keep unwanted visitors out but it’s also important to have a way of controlling the traffic flow if you have a steady stream of clients, visitors, and employees arriving and leaving all day and night. This applies to larger premises, such as factories, warehouses, and distribution centers. There are lots of different designs, including swinging and sliding gates.

Secure access control systems are a good solution. If a gate control system is installed, it will make life easier for the gate operator. Their job is to verify the credentials of anyone entering the premises, so it is helpful if they can open and close the gate using an electronic mechanism.

All gates should be lockable and secure when the premises are closed.

Lighting

Security lighting will help to keep your business premises secure by shining a light on anyone trying to gain entry. Most intruders don’t want their actions to be visible to anyone passing by. Bright lights make it much harder for someone to break in.

Fix bright lights around the permitter and over any doors. Motion-controlled security lights use less energy if you don’t want lights blazing all night. Be vigilant for lighting blackspots and make sure all lights are well maintained, so bulbs are replaced when they burn out.

Security Cameras

Modern security systems are very sophisticated and unobtrusive. With the right system, you can have a live feed transmitted to a remote device and uploaded to the cloud. This way, the premises can be monitored and protected at all times, without on-site security staff.

Speak to an expert to view your options.

On-Site Security Personnel

There may be a need for on-site security personnel patrolling the premises outside of operating hours or 24/7, depending on the nature of your business. If you go with this option, make sure you provide welfare facilities for your team, where they can monitor cameras and keep warm.

There are plenty of ways to keep commercial premises secure. Choose the best option for your budget and business type.