AXA has a long history of protecting SME businesses across a wide range of categories. With this experience, AXA is able to provide expert advice and consultation to business owners, and assist you in choosing the right coverage for your business based on your needs.
AXA believes the best form of protection comes from preventing or reducing the risk from occurring at all. That is why AXA not only offers SME insurance, but also provides risk management services.
AXA SME Insurance offers professional risk management services to help assess your business risks and provide you with steps to mitigate those risks. Their risk engineers are able to assess your businesses via a thorough survey to identify key risks and risk mitigation steps.
Various types of risks like fire, gas explosion, natural catastrophes, burglary, theft, occupational hazard, and public and product liability can lead to business interruption and loss of income for businesses.
So, what are the steps that can be taken to reduce or prevent these risks? AXA’s professional risk engineers suggest you should do the following:
1. Ensure adequate fire protection is provided per regulations, with proper testing and maintenance.
2. Establish a proper housekeeping program (limited storage, dedicated storage area for dangerous goods, limited waste storage at premises).
3. Install gas detectors and regularly check the pipelines for leaks, corrosion or damage.
4. Ensure integrity of electrical equipment through periodic testing and maintenance.
5. Have a study done with the local authorities on the natural catastrophe exposure in the area. Your insurer will be able to assist to provide information, and help establish an emergency program should the hazard exist.
6. Establish security programs (CCTV, guards, adequate access control, etc.)
7. Have periodic checks on the cash register and stock counts, with authorized signatory.
8. Identify the risks at the workplace, conduct regular checks and mock drills and establish a written contingency plan with details of backup personnel.
9. Take adequate safety measures such as putting up proper signage when cleaning, setting up periodic cleaning schedules to ensure kitchen hygiene and conducting thorough quality control processes to uphold products safety
10. Transfer your risks to insurance companies through comprehensive insurance policies
To get help from AXA’s professional SME experts, please visit www.axasme.com. Watch the video below to find out more: