There is no getting away from the fact that insurance is a vital aspect of life, whether it is for our own personal protection through health insurance or protection of business assets through office insurance. The need to protect investments is acute, and for well over a century, our friendly neighbourhood insurance broker has provided policies that allow us to do so.
The annual outlay of an insurance policy is generally quite low when compared against the costs involved should things go wrong. If the theft of stock in a retail shop takes place, for example, the financial impact can be crippling without the protection provided by retail shop insurance. For providers of medical services, it is necessary to hold surgery insurance policy to protect against the risk of legal action against a doctor, as much as there is to protect against break ins.
This is something that cannot be considered a surprise, but it is always worth reminding everyone. The information that is disclosed on a policy contract must be accurate, or else the policy can be considered void. Should anything change during the course of the policy, then it is necessary to notify the insurer also. This relates to change in risk level, obviously, not in the general running of the business. An example could be the decision to renovate premises, and the fact that part of the work area would then be a building site.
Basic Security Standards
There is an expectation by the insurer that their policy holders are doing everything necessary to prevent theft in the first place. This means that a suitable and fully operational security alarm system should be in place. For offices, for example, it means that lobby doors are locked securely, that windows are secured and that boardroom and executive office doors are also locked. The same stands for surgeries, though the added threat of drugs theft means that cabinets and refrigerator units should also be properly secured.
This is a fairly wide ranging condition, but the basic point to it is that the policy holder has done everything in their power to keep property and staff safe. So, there is a responsibility on the part of the policy holder to ensure the safety risks that a typical office staff are under are kept to a minimum. This means, for example, that faulty fittings are repaired promptly and not left for someone to suffer an injury by. It also extends to staff too, with employees hired understood to be competent and of sound mind, and not a danger to the premises or colleagues.
Condition of Alarm
It has become a basic level of security for any workplace that a properly working security alarm system is installed. The policy itself will detail the specific aspects of the alarm system that must be in place and in perfect working order. It could be something as obvious as the strength of the alarm bell itself. Policies can include the condition that should any single part of the system not be in working order, the system overall will be considered ineffectual. So, having a security system that works properly is essential.
Security While in Transit
When goods are being transported long distances, it is only to be expected that a late night stop will take place. Drivers, after all, need a break from the road to guard against driving fatigue and any accidents that may occur as a result. However, during these breaks security is still important, and should goods be stolen, proof that the vehicle was left unlocked can prevent pay out. If there is a lengthy stop, lasting several hours or more, the vehicle should be kept in a properly secured garage.
When it comes to any type of insurance policy, whether office insurance or otherwise, there are many conditions, and these are just five of them. However, it is not difficult to meet them if one simple fact is accepted. That is that the policy holder is ultimately responsible for safety.
So, retail insurance policies will expect that the shop front is properly secured against break ins, while surgery insurance providers will want assurance that expensive equipment is properly secured behind locked doors, and that drugs are not easily accessible. These factors are something that the policy holder is in place to ensure are the case.