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As an entrepreneur, it is important to be prepared for anything that might happen during the course of the day-to-day operations of the business. This is especially true during this holiday season when the increase in activity also calls for more risk of accidents.
Thus, to keep the employees and customers safe and to also minimize the risk of potential losses, and even lawsuits, it is critical to know how to manage these situations.
Here’s what every entrepreneur needs to know about managing in-store accidents and how they could protect the business against these.
Have Emergency Response Plans. When disasters strike the store, business owners need to make sure everyone understands what is expected of each employee. They should have an emergency response plan that includes procedures for getting the right medical attention and response for different situations.
Having emergency response plans also helps everyone plan for future scenarios. In such cases, the staffs need to have contact information of other nearby hospitals and local authorities. These details are critical for managing injuries, damages, and potential losses for the business.
Train your employees. One of the best ways to avoid accidents in the workplace is to ensure that all employees are properly trained. New employees should receive comprehensive training on all safety procedures and protocols before they begin working.
Likewise, a business should also provide refresher courses regularly on safety procedures employees should observe in case of unfortunate incidents. Train every staff in implementing the emergency action plan, as well as a proper response during accidents, and coordinating with relevant authorities.
Get An Insurance Protection. Having insurance protection provides extra security for the business. Business insurance is a policy that covers the cost of damages or losses incurred due to events that may occur during the normal course of the business.
While accidents can happen at any time, the holiday season is often a busy time for stores, which can increase the risk of accidents occurring. If a business owner doesn’t have insurance protection, they may be held liable for any damages and injuries that occur inside their store which could even lead to potential lawsuits.
Malayan Insurance provides a comprehensive business insurance product for entrepreneurs. Business Protect is an insurance protection for small and medium enterprises (SMEs) and comes in several variations that befit the needs of the operations of the business.
This product features property insurance which covers losses or damages from different disasters and accidents; money, securities and payroll insurance in case of losses due to burglary or robbery; and personal accident insurance for the insured business and up to four (4) employees below 60 years old.
It also has a comprehensive general liability cover, a value-added feature that eases every entrepreneur’s business-related legal worries against third-party claims as a result of property damage or injury arising from the operations of the business.
Depending on the type of business, this particular feature offers extensions relevant to the nature of the business, including fire legal liability, tenant’s legal liability, premises medical payment, deleterious matter in food or drinks for food and water refilling station businesses, and carpark liability.
This insurance product covers business establishments such as restaurants, barbershops and salons, kiosks, clinics, water refilling stations, retail stores, and business offices.
As another value-added feature, Business Protect also comes with concierge and lifestyle services to help SME owners with their business permit renewal, web development, and legal counseling. Its concierge services will also provide over-the-phone emergency support services such as telephone medical advice and call for help.
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