This is the fourth instalment of five blog posts that summarize the 25 quick tips from my eBook, “Insurance Premiums Are Killing My Business." This risk management ebook is a great start for small to medium-sized business owners that are curious about starting the risk management planning process.
The tips below have been written with small to medium-sized businesses in mind, although the same principles should be employed by very large businesses.
16. Implement and follow formal written policies
Policies and procedures are a very effective way to defend against claims and lawsuits. Policies must be strictly followed to be effective.