How to Drive Business Growth by Minimising Risk

If your business, like many others, depends on efficient and secure transportation and systems, then it is essential that you understand the risks which can affect each facet of your transportation infrastructure and your business performance.
Just consider what the impact would be if you do not have management systems for the replacement of key vehicles, contingency plans for vehicle downtime, security of vehicles, overnight parking security, accident and breakdown data, driver safety and training, legislation compliance and so on.
Vehicle risk management has been proven to deliver clear savings and benefits for companies of all sizes, whether you are a large fleet operator, have salesmen with company cars, or indeed have employees who are required to drive on company business (including the use of privately owned cars for work use).
Quite simply, reviewing your vehicle and fleet systems ensures that any risk affecting your business is managed effectively - before it could lead to a serious incident which may threaten your business.
If you think about the legal implications, the management time used in dealing with unforeseen incidents, the loss of productivity, and the financial implications, it will come as no surprise that many businesses like yours are looking for specialist help and advice.
Once you are aware of the particular risks your business faces means that any action you take will be more effective and therefore more secure. How can you be sure that you are adequately protected?
At BiB our aim is to help you manage and reduce your exposure to risk, specifically when it comes to the vehicle risk management for your business, helping you to minimise the risk you face from unforeseen incidents, disputes and litigation.

So how can we reduce your exposure to this risk?

Unfortunately, it’s a common feature that many businesses often overlook the need for a comprehensive vehicle risk management programme to their cost. Effective vehicle risk management looks at every possible impact on your business, and knowing the particular risks your business faces means that any action you take will be more effective and therefore more secure.
In fact, there are a number of factors which will affect the risk management measures you adopt; such as driver competence, legislation compliance, vehicle security, driver skills and training to contingency plans for transport disruption.
Whatever your business, a well-planned review and assessment of your vehicle risk management programme is a proven and effective method designed to protect your valuable investment.
To give you some guidance on vehicle risk management, we have put together an outline below of the main areas you should take into consideration in order to reduce your exposure to risk.

What you should consider

We would recommend that you carry out a thorough examination of both your premises and operations, closely evaluating any areas which may leave you exposed to significant risk. This will highlight any areas which could cause problems to you and your staff, enabling you to:

• Identify the areas in most need of attention.


• Evaluate the scale of risk.


• Ensure that you have adequate arrangements in place.

• Some important areas you need to consider when assessing your exposure to risk:


• How dependent is your business on the vehicle fleet?


• Are there commercial or specialist vehicles in operation which would be difficult to replace?


• Do you have contingency plans for vehicle downtime?


• Have you installed security equipment in vulnerable or essential vehicles?


• What overnight parking arrangements do you have?


• Is there secure parking arrangements when vehicles are parked off-premises?


• Do you have segregated parking to minimise the spread of fire damage?


• Are accident and breakdown statistics monitored and actively managed?


• Are operational rules issued to all drivers?


• Is driving restricted to preferred categories?


• Are drivers required to disclose all convictions and accidents?


• Do you operate driver appraisals or safe driving incentive schemes?


• Are drivers required to always set locks and security devices when away from vehicles?


• Are drivers’ licences, eyesight and medical conditions regularly checked?


• If drivers use their own vehicles for business do you check insurance and roadworthiness?


• Is there a system to ensure that vehicles are correctly taxed, insured and undergo safety checks?

This is a brief overview of some of the issues that could affect your business to a greater or lesser degree, depending on how you manage them. We can help you examine these areas in a well-planned and detailed manner, identify your level of exposure to risk and develop an organised, cost-effective risk management plan.
All of which gives you greater control of your business performance, profitability and success.

What should I do now?

If you would like to find out more about managing the risks associated with vehicle and fleet systems, then please call us on 01325 353888 and we will be happy to discuss this important issue with you in greater detail. Alternatively please email us on webenq@bibinsurance.co.uk