08-04-2008
ABI calls for new approach to risk management
News by Adfero for Simply Business - independent providers of public liability insurance, business finance, landlord insurance, buy-to-let mortgages & commercial mortgages.
The Association of British Insurers (ABI) has called for the adoption of a new approach on the issue of business risk management.
According to Kelly Ostler-Coyle, a representative for the ABI, businesses should adopt a more "holistic" approach when it comes to risk management.
"It's about businesses looking holistically at the problem and to keep renewing how they look at that problem," said Ms Ostler-Coyle.
"Look at the risks because things change all the time."
Specifically, Ms Ostler-Coyle believes that companies in possession of business insurance policies - which may include policies such as professional indemnity insurance or public liability insurance - should also ensure the presence of business contingency and business continuity plans.
It was also noted that businesses should ensure that they maintain a fresh perspective on the problem of risk and keep abreast of the dangers they face.
The ABI has a membership base of approximately 400 businesses.