Many of the claims we see at Insurtec could have been avoided if the proper preventative measures had been taken. Here are some helpful tips to follow to minimize your chances of having a claim.
General Theft Prevention
All exterior doors should have deadbolt locks with at least a one-inch bolt into the strike plate.
Consider installing a burglar alarm system.
Make sure the premise is well lit, particularly when closed for business.
Limit the amount of cash on hand by using a safe or daily deposit routine.
Continually check for unsafe work conditions and take steps to solve the problems.
General Loss Prevention
Provide fire extinguishers in your premises and instruct all staff on how to use them.
Fire alarms are inexpensive and crucial in preventing further damage to the premises in the event of a fire.
Consider installing carbon monoxide detectors, especially if your business is in an older building.
Do not overload electrical outlets.
If existing electrical service is inadequate, be sure that a professional electrician does any required electrical modifications.
In buildings with a sprinkler, keep stock more than 18 inches below the sprinkler heads, so as not to interfere with the system's effectiveness in the event of a fire.
Never store combustible material, such as cardboard or paper, near heaters or electrical equipment.
Protecting your computer equipment
Insurtec offers EDP (electronic data protection) coverage when property is insured with us.
Backup data and programs on a regular basis and store them offsite. If you store the backup next to your computer, a fire could destroy the backup too.
Laptop computers and cellular phones are portable and easy targets for theft. Do not leave them unattended.
Maintain records of serial numbers for all computers and other office equipment.
Use surge protectors on each computer, preferably those with fuses.
Business Interruption Prevention (Loss of Business Income)
Employ the services of a professional accountant to prepare financial statements and perform an annual audit of your books.
Duplicate your business records and store them off-site; in the event that your premises are damaged, you will have documents to substantiate any business income loss.
Slip and Fall Loss Prevention Tips
Inspect the interior of your premises on a regular basis for unsafe conditions that could lead to a slip & fall loss. Maintain a daily log of when the inspection was done, what conditions were noted and what corrective action was taken.
Floors should be kept clean and in good repair at all times, with loose or defective flooring being replaced immediately.
During periods of inclement weather, all entrances should have mats or rugs to help keep the floor clean and dry. Damaged mats should be replaced as soon as possible.
Non-slip wax should be used on floor surfaces, where required.
Water and other spills should be mopped up immediately and a Caution-Wet Floor sign should be posted.
Certain oily spills, such as tanning lotion, must be treated with extra caution, as these spills typically leave a slick residue.
Ensure that all entranceways and aisles are clear of obstructions and/or promotional displays.
Any damage to stairs, sidewalks and pavement should be repaired as soon as possible, with signs and barriers posted, until such time as repairs are completed.
A snow and ice removal program should be implemented.
Have the appropriate equipment, tools and materials available for use by your staff, in the case of a weather related emergency. e.g. shovels, salt, sand etc.
How to prevent EPLI claims (Employee-Related Claims)
Insurtec offers Employee Dishonesty coverage when property is insured with us.
Develop a written employee handbook and manual. Have this critiqued by outside legal counsel. Review it periodically. Include disclaimers stating that the manual creates no implied or expressed employment contract.
Examine the hiring process. Another solution to EPLI claims lies in hiring and interviewing. Carefully evaluate every potential employee and don't hire someone who you feel may cause trouble in the future.
Act fast to prevent small complaints from becoming big claims. The key is to address the issue fast and resolve it promptly. To prevent EPLI claims, consider heightening awareness of the numerous federal laws on discrimination, civil rights, etc
Insurtec has specialized in tanning insurance, spa insurance and other related services since 1995. We focus on these markets and are backed by great carriers.