We understand the risk environment you operate within and appreciate some businesses can appear to have increased risk than others. This can be as a result of internal or external risk exposures and we work closely with our clients to identify these, analyse their potential impact then mitigate them through effective risk management or transfer into the Insurance Market.
|What issues might your business face?
These will be numerous, below is a snapshot of some of the issues a business like yours may face.
Standard Terms of Business (Sale and Purchase)
Is ”standard terms” been repeated on your written terms? Has this been correctly used or has your business overlooked this, as this can be critical to managing your business risks? Does your business have them for both the sale of its own goods and services and purchases from others? If not, your business’s liability is probably completely uncapped, leaving you very exposed.
Are you contracting with customers online?
Does your business have adequate processes in place to ensure its website operations are secure and fully compliant with all applicable laws and regulations? Does your business contract with consumers? If so, are their terms adapted to comply with the stringent consumer protection legislation? If not, it could be subject to a Competition and Markets Authority or Local Trading Standards investigation which could be costly, embarrassing and ultimately distract from the main business focus.
Does your business sign up on its supplier’s standard terms? Do you understand what you are signing up to? Do you know what an indemnity is?
Have you regularly conducted audits for Data protection policies and procedures, Employment contract terms, Health & Safety Policies, Intellectual Property rights, licensing and legislative compliance, measures to protect Confidential Information and Trade Secrets?
How can we help?
Working alongside our insurer and legal partners, we can identify core areas of risk and will produce a report for you containing recommendations as to the legal steps you can take to reduce the impact and effectively manage those risks and make your business a “safer bet” to
If you’ve read anything that you would be interested in discussing further. We at Sentio Insurance Brokers would be more than happy to have a detailed conversation. You can contact us on the details below:
T: +44 (0) 1905 382 371