Is there anything that I can do to prevent my premium from increasing?
There are many actions with little or no cost that can be done.
Tip 35 – Slips and Trips again!!!
I have been studying insurance claims in retail shops for the best part of 20 years now and I can say without hesitation that slips and trips, (normally involving customers but sometimes staff as well), are the most costly by a massive margin. The most frustrating fact is that in almost every solitary case the incident could and should have been avoided.
One fact that I have learned today, (having checked my statistics in advance of writing this piece), is that 70% of what I classify as “Slips and Trips”, are in fact trips! That is to say that the injured party tripped over an obstacle. These obstacles include shopping baskets, turned up door mats, newspaper bailing ties and often drain covers and other hazards on forecourts. You and your staff see these every day.
We each have a responsibility to manage our own risk exposures. Insurers are simply fund managers. They collect premiums sufficient to pay for claims. The more the claims the more the premium. It really is that simple.
If something needs fixing – please have it fixed now. Don’t wait for the opportunist or worse, an unfortunate victim to have an accident, make a claim and then assume that your insurer will carry the cost. Your insurer gets that cost from other retailers so please remember that.
Has your staff been trained to carry out regular floor checks? Are discarded shopping baskets and other trip hazards picked up immediately?
Understandably retailers are crying out for reasons as to why their insurance premiums are continuing to increase. However difficult it is to give an explanation to a shop operator who has had a claim, believe me when I say that those who are claim free don’t take too kindly to my explanation that their premium increase is contributing to the cost of those who have had claims. As I said – we all have a responsibility to do whatever can be done. Mine is to learn from the claims and pass on helpful information. Yours is to act upon it!
Always remember – call us to discuss any/every incident. We will advise and guide you.
