contractor success Building A By: Ted Devine Risk Management Plan Your goal has always been to own your own business, but is your dream protected? R Running a cleaning business is hard work. Your employees require on-the-job train-ing, their shifts often occur at hours when accidents are more likely to happen, they use chemicals that can be dangerous when applied incorrectly and the facilities they work in may not all be in the best condition. Should you not take the time to address and remove these and other risks specific to your business, your lifetime of work could be lost in just a few minutes. Just like running any management pro-cess, it takes planning, discipline and an eye on budget to establish the right risk and insurance strategy. With the following steps, you can make sure your business is protected: 1. Recognize the various ways you can suffer loss 2. Follow the guides for buying insurance economically 3. Organize your insurance management program 4. Get professional advice. working day is over, so second and third shift workers often find themselves driving on dark streets, sometimes in bad weather. Whether the cars are owned by the clean-ing company or the employees themselves, the liability is the same. ■ Workers’ compensation No surprise here, but cleaning can be a physically taxing — even dangerous — job. Common issues include strained backs from improper lifting, falls on slippery sur-faces, physical or respiratory exposure to chemicals and falls during window cleaning. There are additional industry-specific risks for clients such as healthcare facilities. ■ Fire and extended coverage Some types of cleaning companies face greater risks than others. Recognize Your Unique Risks There are a number of basic insurance types that every business owner should consider, but each industry has its own unique risks that require the right kind of coverage. Every industry is different and, according to A.M. Best Company Inc., a leading pro-vider of insurance information, the top risks for cleaning and maintenance companies are automobile liability, workers’ compensa-tion, fire and general liability for on-premise operations. ■ Automobile liability Many cleaning companies are required to provide their services after the regular An agent familiar with the commercial cleaning industry can help you identify common threats and suggest coverage sufficient for the inherent risks of your business. 30 CM/Cleaning & Maintenance Management ® • August 2012
CMM – Archives August 2012: 30
