Insurance companies expect you to secure your workplace. No, not just lock the door; your insurer wants you to secure your place of business from intruders.
High-risk commercial insured’s are required by the insurer to meet certain minimum levels of security, i.e. your business should have double locking deadbolts. Windows that lock, a security alarm system, security screens, safe business practices – you can discover insurers’ business requirements by talking to your Insurance House broker.
As a business owner, there are other steps to consider that (1) more safely secure business assets and (2) lower the cost of business coverage through years of company operations. However…
…to be prudent, an business owner should consider a number of “optional” security measures. These steps may not be mandated but they make good sense when it comes to protecting your livelihood and the livelihood of your loyal team.
Conduct a security audit. Some insurers may require a work site audit to identify potential risks that will be covered by your business policy. If an insurer doesn’t insist on a risk audit of your business, ask for one. It’ll save you money and unnecessary worry. You will be covered.
Take a walk around your workspace during the day. Are there shrubs or other hiding places where stolen goods could be hidden? Be sure to go back and check your workplace after sunset. Make sure lighting is adequate and there are no dark spots where bad guys can hide. A CCTV surveillance system can lower insurance premiums, so talk to your broker about conducting a risk audit of your business. It’s FREE. What’s better than that?
Conduct bank business electronically. Collect payment at the time remote site employees deliver services using smartphone technology. Money moves faster, and your business is safer, when payments are made electronically.
Double lock company data. Employ multiple layers of security to protect data theft from unscrupulous employees and outside hackers. Your IT professional should sync your office server with your Internet provider’s server to make sure all security systems are aligned.
Hire an IT professional to install, configure, launch, and maintain your company’s data security. Most of us don’t understand just how easy it is to breach low levels of Internet security. Opening a single unsolicited email can launch a virus that locks up your business work stations tighter than a drum. And your business is “Out of Business” for a lack of data security.
Install good surveillance cameras. They’re a low-cost alternative to on-site security protecting the corporate campus. Get them, focus them on trouble spots, and monitor your place of business any time, from anywhere.
Introduce yourself to your neighbours. Form a mutually beneficial alliance to watch each other’s businesses. You can also notify neighbours of unusual deliveries or other activity that might be considered suspicious by a well-intentioned business owner down the road.
Get to know the neighbourhood and report anything suspicious.
Check references of all new hires. Call previous employers and ask questions. Call personal references.
Conduct background checks when filling highly sensitive positions within the company. These global searches may cost a little, but if they save you from one unfortunate hire, they’ve paid for themselves.
Finally, track daily business activity. There’s lots of software that tracks employee activity and project or purchase activity, and provides a simple desktop so you can monitor business activity in real time. Client relations management (CRM) software tracks business at the “per sale” level. Key logger software records every keystroke made by employees so you can detect suspicious activity more quickly.
Talk to an IT professional about installing CRM and key logger software to more closely monitor daily business activity.
You can lower your company’s insurance premiums, lower risk of employee injury, and identify potential risks that you can fix before that risk becomes a reality.
It’s your business. Make sure it’s risk-averse. You’ll sleep better.