| March 11, 2008 | Vol 3, Num 10 |
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Last week's poll results:
Which candidate would help the industry most as president?
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John McCain |
54% |
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Barack Obama |
17% |
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Mike Huckabee |
16% |
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Hillary Clinton |
13% |
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Risk management impacts insurance rates
Most entrepreneurs are risk takers, willing to invest resources with an expectation and hope of reward, but no guarantee. Insurance, however, looks at “risk” as “peril.” Crime, vandalism, fire, a personal injury lawsuit, a computer virus, equipment breakdown, non-delivery of raw materials, death or illness of a key employee—the list of adverse events that can cause economic harm to your business can be extensive.
Risk management involves using insurance to reduce the financial impact of adverse events on a company when—despite your best efforts—bad things happen. Risk management, particularly loss control, begins at the top of any organization. If the head of company makes it a point to emphasize safety, compliance, and lawful and ethical behavior, the rest of the organization is more likely to follow suit.
Effective loss control—reducing the number and size of losses—might impact both the availability and affordability of insurance. For more information on good risk management practices, call the NGA sponsored insurance program, GlassInsure, at 800/640-7601, or check out www.glassinsure.com.
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Brought to you by the National Glass Association, publisher of Glass Magazine and www.glassmagazine.net
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