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Get DirectionsEffective risk management begins with identifying and addressing basic hazards before the occurrence of any incidences. Without a proper understanding of the hazards and risks which your employees are likely to face with the nature of their tasks, it may not be possible to ensure their safety. Below are three main steps that an organization may use in the management of auto risks.
1. Risk identification and assessment.
This is the process of examining and evaluating the basic auto risks for purposes of identifying any hazards which are inherent in the tasks of employees. While evaluating auto risks, two main factors should be considered: The severity of the impact on any injury as a result of the risk, and the probability that the damage is likely to occur.
This will call for the need for supplemental excess liability auto insurance to help cushion the organization in case the level of severity and probability of occurrence is high.
2. Risk control
After examining and evaluating the risks, action should be taken for all assessed risks. You can have your employees have a definite route, establish an accident reporting policy, reviewing the driving policies of the organization by ensuring the vehicles are roadworthy and safe and come up with the standard code of conduct for all drivers.
3. Review and Monitoring
Whichever method you choose to control the risks, it is important to monitor and carry out a review of the process to determine its sustainability.
Additional coverage will always be needed if the potential auto exposure risks likely threatening your business and employees. You should, therefore, consider purchasing liability insurance in addition to the self-insurance which will provide sufficient coverage in case of an accident with liability exposure.
At Green Valley, AZ, Insurance Center of Green Valley, we understand the complexities in protecting all aspects of your business. Our experienced professionals in auto risk management will be glad to provide you with any assistance in securing commercial auto insurance. Call us or visit us today for more information.