The Importance of Proper Procedures
Written by Marlo .
Always on the look out for ways to keep business insurance interesting, I came across a video at insurancejournal.com that illustrates the importance of planning and creating proper written procedures. Planning for risks and creating procedures in advance to reduce risk are the best ways to reduce the cost of business insurance.
Just ask the people at Gatorland. As a part of its video series “Watching the Risks,” Insurance Journal posted a video interview with Tim Williams, Gatorland’s dean of gator wrestling, discussing the ways Gatorland manages risk. The video is great, not only because of the great shots of gators, but because of the lesson it teaches on the importance of risk planning.
Williams states in the video that Gatorland’s alligator wrestlers have a lower workers’ compensation premium rate than the facilities personnel at Gatorland. Why? Because ‘gator wrestlers are constantly vigilant when performing and thus have a lower incident of injury. Cutting the grass, trimming the hedges, working with power equipment and maintaining the park, is naturally perceived by employees as less dangerous and so the incident of injury increases as job safety is taken for granted.
Williams states that safety is the primary concern at the park and that the park maintains written procedure and emergancy manuals for all park operations. Those procedures are taught to employees and provided to the park’s insurance professionals. Steps that reduce risk resulting in reduced premiums. And, if it works for a place that keeps live poisonous snakes and gators, it will probably work for your business.
The Importance of Proper Procedures originally appeared on About.com Business Insurance on Monday, December 7th, 2009 at 11:14:53.