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How to Minimize Risk and Decrease Claims in 2024

By February 2, 2024February 6th, 2024Business Insurance

When it comes to safeguarding your small business against financial losses, general liability insurance is the first step. As the cornerstone of your small business risk management, general liability insurance protects against risks big and small. However, some of the best things you can do to reduce risk and decrease claims start right in the office. Below, we offer insights on how to minimize risk and decrease claims this year.

Take the First Step With General Liability Insurance

No matter the size and nature of your business, there are always uncertainties. General liability insurance guards your business against these uncertainties by protecting against financial loss as the result of bodily injury, property damage, medical expenses, libel, slander, lawsuits, settlement bonds, or judgments. Whether you see a lot of foot traffic and are worried about slips and falls or manage a lot of sensitive customer information and are worried about cyber liability, our experienced agents can work with you to determine your business risks and put together an insurance package that makes sense for your unique business needs.

Risk Mitigation Starts In the Office

While it can be easy to think that risk only comes from external factors, some of the major ways your business can put itself at risk are internal. Setting clear safety protocols and providing regular training to your employees can help them understand how to keep themselves, coworkers, and customers safe. This can include training on proper lifting techniques, fire safety procedures, or even cybersecurity awareness to protect sensitive company information. Communicating these expectations to your employees can minimize the risk of misunderstandings or misconduct that could lead to claims.

Making it a point to conduct regular risk assessments where you can proactively identify and address potential hazards can also reduce the likelihood of claims. 

Foster a Culture of Open Communication and Transparency

When employees feel that they can have open communication without fear of retaliation they are more likely to report any potential risks or concerns. It’s important to encourage an environment where issues can be addressed promptly. This allows for timely intervention and resolution, minimizing the impact of potential claims.

Risk management is an ongoing process, so it is important to regularly review and update your strategies to adapt to changing circumstances. With a proactive approach, you can create a safer and more secure work environment for everyone involved. Our experienced insurance professionals can help you understand your unique risk profile and offer guidance on mitigation strategies.

Why Choose Our Maryland Insurance Agency

When it comes to minimizing risk and decreasing claims the key to success lies in incorporating proactive risk management strategies and leveraging our expertise.  As a trusted local insurance provider with years of experience in Maryland, we understand the unique challenges small businesses face. That’s why our general liability offerings can be customized to suit your specific needs while adhering to the highest global standards. Reach out today, and together, let’s build a secure future for your small business.

Speak With An Agent At Unity Insurance About Your General Liability Insurance Needs Today

Unity’s insurance professionals serve as your advocate from the very beginning. From selecting coverage to filing a claim, we are by your side every step of the way. At Unity Insurance, we know insurance plays a vital role in every stage of your life and business. Our professionals provide guidance and support to ensure you make the right decisions regarding your insurance options. We work with our clients to provide the best plan for individual needs. Call 410-539-6642 to learn how the experienced insurance agents at Unity Insurance can assist you.