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The New Year Brings Evolving Risks to the Motor Trade Industry

Jan3

The New Year Brings Evolving Risks to the Motor Trade Industry
With electric and hybrid car models emerging and exciting in-vehicle technology on the rise, it’s no surprise that the motor trade industry is in a state of constant change. And while these changes can help ensure business success, they also result in the presence of new risks. As your workplace advances, be sure your risk management techniques follow suit. Consider the following recommendations: 
 
  • Routinely update your risk assessment - When your organisation implements new technology or equipment, your risk assessment should be updated to take those factors into account. Make sure you consider how this technology or equipment will affect workplace processes, employee health and safety, and your insurance.
  • Train your staff - You can’t expect your employees to be experts on workplace advancements without providing instruction. Ensure all workers can demonstrate proper use of new technology or equipment before implementing it. Any staff member that operates a vehicle must have their driving records and licence reviewed.
  • Prevent criminal activity - Technology, vehicle parts and equipment can be an attractive target for thieves. Not to mention, cyber-attacks have become a common threat. Implement appropriate security measures to prevent theft and make sure your cyber-practices are compliant with the GDPR to avoid a breach.  Information on Cyber Insurance can be found here

 

Manage Your Risks

Your business is exposed to numerous special risks. A complete appraisal of what you face and a bespoke policy will help protect your business and ensure future profitability.
 

Contact Higos Insurance Services Ltd today on 01458 270 428 for more information on crafting a robust motor trade insurance policy.

For more information on how we can help protect your business, visit our Motor Trade page or complete our online quote request form.
 
Our previous blogs regarding your Motor Trade business may also be helpful:

Posted by: Higos Insurance Services Ltd