Save on risk

15 April 2008

As theinternational constructionboom roll on there is more demand than ever for A relevant expertise in all areas. To ensuresat safety and value for money remain that the agenda the industry needs to focus on risk mangement

Crane rental operators have always needed d to changes in the insurance industry, when taking responsibility for employees in a high risk environment. But with obal market complicated by a combination g products and providers, finding the right is more confusing than ever.

The good news is that the increasing availability ke policies now allows crane operators lored insurance to suit their needs. Cost-products that provide perfect protection tuation can be found, but only if you know ok for.

The key to taking control of your insurance is intermediary who is willing to listen and the best deal for you and then work out a agement policy to protect employees, cut d bring down the cost of the whole policy. wing risk management tips are a good plase to start.

1 Find the right insurance partner

Selecting the right insurer should not only be beased on how much the premiom costs but also on good value for money pay attention to the level of service and support on offer along with the flexibvility and willingness to adapt to any potentil changes to policy needs.

2 Review your current insurance policy

It is likely that you feel that your last insurance premium was too expensive. Finding a qualified and independent insurance intermediary with the specific knowledge of your industry will enable you to establish whether your current premium is truly competitive and fits in with your requirements. Remember that it is important to use an industry specialist.

3 Keep an eye on industry regulations

Have regulations changed since you last renewed your insurance? Does your current policy comply with industry standards?

4 General health and safety

Having water-tight health and safety and risk management policies in place has never been more important. The nature of the induction procedure will depend on the specific machinery involved but a comprehensive program will decrease the likelihood of accidents and, in turn bring down the cost of the premium. Regular health and ning for employees is imperative ugh it may seem time consuming it is worth the investment. courses to deal with changes in also ensure that employees are fully aware of how this affects them.

5 Do not settle for inadequate insurance

The insurance market is highly competitive licy does not give you what ask your insurer about it, for depending on the size of the and the claims record, insurers lling to contribute towards the ning. If you are working with an ry they should negotiate a better deal for you.

Effective rlak management does not automatically guarantence reduced premuis but iet doees reduce the coast of climits. This will make the risk more attractive to other insuerers in the market anmd mounts that by may of completienmtsd premuius will be re3duced by the time the policy is next up for renerval.

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