Media - Small business not immune to Mactavish report findings
This Financial Times news story offers an excellent summary here.
While the Mactavish report, published March 14, is clearly aimed at the larger businesses of £50m turnover upwards, it does not mean smaller companies are immune to the dangers highlighted within.
Mactavish reports that 65% of large company buyers do not review the materials used to place their risks in the market.
Our experiences as claims advocates tell us that smaller companies are just as likely to do the same and are therefore equally likely to expose their companies to huge risks.
The report lays down several protocols to help both companies, the law and the insurance industry that go a long way to reducing the huge and costly risks.
In the coming weeks Flaxman Partners will examine these protocols and offer some advice for smaller businesses.
In the meantime here’s something to consider now. Is your business “risk aware”?
Does everyone in your company – from senior management to office junior – have a clear understanding of the nature of the risk and how it can harm them, your clients, colleagues and your bottom line. We offer a free guidance paper on our risk awareness programme. Email us if you’d like a copy.
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