Rice on the Side
Security and Risk Management
As a business entrepreneur, you may constantly be searching for ways to grow your business. While looking forward to the next opportunity is a positive strategy, remember to keep an eye on the security of your current business operations. This could help minimize the chances of having to claim on your business's Washington State insurance.
When reviewing your risk management strategy, security should be a key consideration. This is not just the physical security of your premises. Although important, there is much more to creating a secure operation than simply focusing on physical security.
You should also take a look at operational security. One element might be taking a look at the security of your supply chain. How vulnerable is it and have you identified alternative suppliers in case one of your regular supply contracts fails? Another element of operational security might involve reducing the risk of theft by staff.
Naturally you will have done your utmost to recruit reliable employees, but it might be possible for someone to be tempted, should your business inventory include many small portable items, or large amounts of freely available office stationery.
In this electronic age, data security should be at the forefront of your mind too. When customers trust you with details of their financial and personal information, your data handling, storage and back-up procedures must be as good as you can afford.
For the utmost objectivity, ask an outside specialist to review your plans. A thorough strategy may even lead to a reduced premium on your Washington State insurance. Contact us today to find out what discounts may be available.*