Risk management for social enterprises

Posted: 17 May 2021, in News

As lockdown restrictions are gradually lifted, Garry Dalton, Account Executive at Keegan & Pennykid Insurance Brokers shares his thoughts on what you should be doing over the coming weeks, ahead of employees and volunteers returning to the workplace.

If, like me, you are optimistic of permanent easing of lockdown restrictions then we can refocus our plans for a new normal that hopefully reminds us of pre-pandemic days.

The ongoing vaccination programme throughout the UK will feature heavily in bringing normality back to us all. If we continue to be vigilant, adopt good practices and better hygiene standards, we can win the battle and maybe, just maybe, one day the war against COVID19.

Let us never forget the huge sacrifices that have been made getting to this stage. We must not allow our guard to be dropped. We all have a responsibility to recognise that there will be a continuing and ongoing need to control the virus and stop it spreading.

A common sense approach to risk management dictates a simpler process to assessing risks resulting in a more organised method in controlling those identified risks. 

We all should know the specifics required when it comes to social distancing, self-isolating, sanitising etc as these are the headlines in front of us daily, but it is possible that other daily risk management issues that our lives centred around before coronavirus may have been given a back seat or, dare I say it, our eyes have been taken off them while we learned and adapted to a Covid world?

Those of us who have continued to operate from the workplace will no doubt be on top of risk management including the new measures required relating to coronavirus.

For everyone else who has had to close premises, reduce operations or move to a working from home platform then good preparation, including thorough inspections, will be key to taking appropriate precautions and also following current guidance. By doing so, you are better placed in ensuring that you have a successful return to work for all.

What about your utility supplies, are these fully operational? If you have burglar and fire detection systems installed, were any regular service visits put on hold? If so, they are overdue and will require attention before you re-open. This equally applies to the statutory inspection of lifts, plant and equipment.

There’s no escaping the need for proper risk assessments across all of the operations and activities that you undertake. Where you have begun, or plan to begin, new activities you should make sure that anyone involved receives appropriate training but also fully document this training. Indeed, the paper trail is an absolute must in the event of loss, damage or injury as without it the probability of successfully defending a claim significantly reduces.  

Make sure that your insurance cover remains appropriate for your organisation’s current and forthcoming needs. This is particularly important where your organisation’s activities temporarily ceased during lockdown and your insurance cover may have been put on hold.  Similarly, inform your insurance broker if your organisation plans to diversify its activities (or has already done so) in response to the pandemic. 

Keegan & Pennykid is a leading specialist insurance broker that has a longstanding relationship with social enterprises. For expert support and advice please contact us on 0800 731 8030 (option 2) or email enquiries@keegan-pennykid.com.

Garry Dalton, Account Executive at Keegan & Pennykid Insurance Brokers