Your attitude to workplace health and safety is probably the most important single factor that influences your insurance costs in the longer term.
By improving your workplace safety standards, you will help to change the insurance company’s perception of you and your business.
Naturally enough, if you can reduce the likelihood that someone will make a claim against you, insurance companies will begin to look upon you in a more favourable light than before.
And, in practice, that means that you can expect to receive a better insurance quote.
Remember, too, that firms with a proven track record in safety management find it much easier to obtain cover from the better quality insurance companies – those well-established insurers who are financially-sound and have a well-deserved reputation for paying claims.
Let’s be absolutely clear about this. Investing in health and safety (otherwise called ‘risk management’) is, by far, the most effective way of managing your insurance costs. Nothing else delivers the same level of sustained cost reduction.
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