There is a risk to every business decision you make. So, instead of relying on gut instinct, it is a good idea to use risk management to guide your business decisions.
What is risk management?
Risk management helps you make better business decisions.
It involves reducing the things that could have a negative effect on your business and using tools that insure against the risks posed by them.
For example, reducing the risk of injury through safety procedures and insurance.
Business Example :
Some steps George could take to reduce the risks in his daily work include:
- Wearing appropriate clothing to reduce his exposure to chemicals.
- Take regular breaks in traffic, which increases the safety of him, his vehicle, and cargo.
Also, George has to be appropriate insurance package:
- Accident insurance for him.
- Carrier`s Liability insurance of his shipping business.
- Cargo Insurance to avoid losses in case of cargo damage.
- Motor insurance for the potential damage of his truck or third party.
► ASTRUM advice
Please contact us before you start a transport business, get professional advice on risk prevention, and we will provide you with the proper insurance products.