Safeguard Your Business
If ever you reside in UK and you plan to have your own business, then having a safety net will surely keep your business safe. Among the highest ranked hazardous employment fields around the world, building industry is one of them. Being a building contractor or a self builder will surely need a builders’ insurance in order to have a safety net for the building.
Builder employers’ liability is the only compulsory covers. There is also an insurance which is required by law and that is when the builder hires another person. However, there are several more cover available that help to ensure a builder doesn’t become financially ruined due to any unfortunate mishaps.
This article will discuss on how to build a safety net.
The size of the building which is being operated will have a great impact on the size of the safety net that will be used. If you have any staff, part-time staff, trainees, sub-contractors, or relatives working for you, then your first step in making the net is to purchase adequate builder employers’ liability coverage. In that way, you won’t find it hard to cover for the cost of claims filed by the employees and former employees who have experienced some unfortunate mishaps on the job.
The second step to building an adequate safety net is to determine what other insurance cover you will need. To do this, you must conduct a risk management assessment for your entire business, and any work sites that your company is involved with. It is your legal and moral obligation to ensure the safety of your employees, yourself, and all members of the public. Thus, the second step is to identify all possible risks and then either accept them, transfer the risk to an insurer or someone else, reduce the risk, or eliminate the risk completely.
The third step in the safety net building process is to take action on the risks you discovered while performing your risk management assessment. You must do everything within your power to ensure all health and safety requirements are met. In order to secure the safety of everyone, it is important that your employees know how to follow safety hazards and the tools, materials and equipment being used should be safe and well maintained.
It is also important that as a business owner, you should purchase an insurance cover because it is inevitable to avoid or eliminate risks.
Attributed by: over here