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Risk Management and Insurance

Consideration of the interaction between the design of an enterprise initiative and the implications in relation to insurance risks is often left too late in the design process. This can have a significant impact on costs and, at worst, can render a project uninsurable.

When working with clients and partners, we recommend that risk considerations are taken on at the outset, rather than delaying this process and reaching a situation in which changing the project to minimise risk can be prohibitively expensive or physically impossible. 

Insurance and associated issues relate to virtually every aspect of the physical regeneration, construction and operation of most businesses, but none more so than enterprise centres, incubators or managed workspaces. These are impacted upon by build types, security provision, fire prevention and the role of staff and occupation of its client businesses. The more attention paid to these issues, the more effective the enterprise and the lower the economic burden it represents.

On our team we have consultants within the enterprise sector who can provide comprehensive guidance, together with specialist support from insurance company risk management teams, to achieve the following objectives:

• Planning stage involvement to ensure building proposals, including layout and construction, will produce the most cost effective premium level and practical management possibilities;
• Avoidance of costly problems by the early introduction of best practice within the risk management of enterprise initiatives;
• Guidance on fire prevention to ensure legal compliance and risk reduction;
• Guidance on security issues aimed at minimising loss and cost reduction;
• Awareness of practical, legal and operational procedures which are designed to support effective  management;
• Design of robust insurance programmes and placing of cover with specialist insurers who understand the unique nature of enterprise and incubator centre and managed workspace environments. Reduced premiums for organisations complying with best practice requirements;
• Risk management competencies amongst staff;
• Health and safety competencies amongst staff;
• Establishment of maintenance and operational schedules involving licensee, contractor and visitor management systems;
• Disaster recovery planning;
• Full insurance support and ongoing advice to ensure best practice and low claims incidence, resulting in budgetary improvements;
• Monthly legal and risk management updates.

 

Risk Management Team

• Anne Savage BA (Hons)
  Insurance Consultant
• Godfrey Bruce Radcliffe
  EDW Director and Solicitor

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