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Risk Management To Reduce Exposure

Hotel, restaurant and commercial real estate owners have constant exposure to a variety of risks in their business operations. Insurance is a necessity for reducing risks. To get the most value out of your customized insurance coverage, you need to carefully identify risks in advance, in order to take proactive and preemptive actions to protect your business and reduce exposure.
Consider using these risk management strategies:

  • Make a thorough checklist for all areas of specific risks your company may encounter, such as client relations challenges, property and equipment risks, employee safety concerns, cyber security, fraud, business interruption, etc. Make sure you involve both your management and boots on the ground in this risk-identifying process.  Employees who are working on their jobs may have the best information about how to prevent on-the-job injuries relevant to their work.

 

  • Come up with specific steps and actions for mitigating each risk and to reduce exposure from workplace safety measures, to employee education, security procedures and systems, and commercial insurance.

 

  • Work with a knowledgeable commercial insurance agent, to first assess your business risks from multiple angles and further understand the risks that you might have missed. Then you and the agent can together choose the specific business coverage you need to reduce the financial impact on your enterprise in the event of accidents, injuries, property damage, fraud and the other risks you have identified.

Insurance experts with years of experience have insured thousands of businesses like yours, and have gone through many claims, they know about both the common as well as specific risks associated with your particular business.

Rick Callaway of Pacific Diversified has more than 30 years of experience insuring office buildings, multi family dwellings, apartments, restaurants, hotels, night clubs.  Additionally, Rick understands business operations.  He can analyze financial statements and specifically tailor insurance coverage for each business, to ensure no under coverage of risks, and no overpayment of premiums. Rick and his team provide both experience and the “extra miler” expertise in financial and business operation analysis. You are truly in great hands with all your insurance needs.

With a qualified commercial insurance agent, you can adequately protect your company from the challenges that can undermine your company’s financial health. With Rick Callaway’s team, you will also get the most bang out of your bucks, with customized, individualized risk-assessment expertise, and specifically catered insurance coverage.

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