Business insurance 'like risk management'
Commercial insurance
3rd October 2008
The process of insuring a small business is akin to hiring a risk manager, an industry expert has claimed.
According to Harry Binks, the president of a Canadian insurance firm, many small business owners are not always sure what to look for when it comes to insurance coverage as they do not have the kind of risk management advice their larger rivals take for granted.
Jenny Faucher, president and founder of Managing Matters, the Vancouver Sun: "When I started business one of the first things I put in place after incorporating was a risk management strategy to insure the business entity. I felt that was the most important thing to do."
Meanwhile, businessman Robert Packman said it is often best to get a full package from a single insurer in order to take advantage of any discounts or offers.
The Health and Safety Executive is currently investigating possible fire risks at a Bath retail centre which was recently damaged by a blaze.
