How to Reduce Risk for your Business Premises

Businesses today are exposed to an increasing variety of risks, some of which may be obvious, whilst there may be others which you may be unaware of, but which could seriously affect the performance, profitability and ultimately success of your business.
At BiB our aim is to help you manage and reduce your exposure to risk, specifically on the subject of building maintenance, so that you are prepared for any eventuality, providing you with the peace of mind so you can concentrate on running and growing your business.

So how can we reduce your exposure to these areas of risk?

‘If only...’ How often have we heard that from business owners after they have been subject to accidental or malicious claims and damage?
We all know the benefit of pre-planning and preparation; however, many businesses often overlook the need for building maintenance to their cost. Whatever type of premises you have, a well-planned review and assessment of your building maintenance programme is a proven and effective management system designed to protect your valuable investment.

There are five main steps to ensure that you can effectively manage the risks to your buildings:

• Step 1: identify the hazards.


• Step 2: decide who is at risk.


• Step 3: assess the risk and existing control measures.


• Step 4: record your findings


• Step 5: monitor and review

To give you some guidance on building maintenance risk management, we have put together an outline 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 your buildings and working environment, examining all potential areas which may expose you to significant risk. This will give you a clear evaluation of your property so that you can assess your company’s overall exposure to legislation non-compliance and:

• Identify the areas in most need of attention.


• Evaluate the scale of risk.


• Ensure you have the required certifications in place.

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

• Are there any materials and construction methods which could result in expensive repairs?


• When was any roofing last repaired or replaced?


• Are all walls and gates in good repair?


• Are there features such as adjoining rivers or other waterways which may affect your premises?


• Are all your structural guarantees in place?


• How extensive is your building insurance?


• When was your last structural survey or condition report carried out?


• Are CDM Construction regulations, (Design and Management) Regulations 2007, understood?


• Is there a planned maintenance programme in place?


• Do you have any vetting procedures for any contractors who work on your premises?


• How frequent is the inspection and upgrading of fixed electrical wiring and installations?


• Is all portable electrical equipment regularly tested and checked?


• Does emergency lighting operate independently of the main power supply?


• How are fire alarms wired – into the mains or battery power only?


• Are fire alarms tested on a weekly basis, and are staff trained in evacuation procedures?


• Are fire exit signs and escape routes clearly marked and free of obstructions?


• Are flammable solutions stored in a safe environment?


• Have you inspected water pipes and installations?


• Do key people have a plan in the event of a water leak?


• Are water tanks and pipes adequately lagged?


• Is the building adequately heated to prevent pipes freezing during cold weather?


• What are the condition of guttering and drains?

These are just a snap-shot of the type of issues that could affect your business to a greater or lesser degree, depending on how you manage them. Looking at all these areas in a well-planned and detailed manner will identify your level of exposure to risk enabling you to then 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 your building maintenance, 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