Reducing Professional Liabilities in the New Year

As 2017 comes to a close, it’s time to look ahead to the upcoming year. For individuals, that might mean setting a New Year’s resolution for self-betterment or looking forward to events planned for the year. For your business, it means a fresh year and a time to make changes to policies and procedures that may not be working out for you. If 2017 was a rough year for your business or you’ve been procrastinating on making new changes, this is the perfect time to do so. What better way to enter the year than with a new outlook and a plan to reduce Professional Liability exposures?

Get organized.

Specifically, get everything in writing. When we say everything, we mean everything: whether you’re communicating with clients, communicating internally with other employees, providing an official set of guidelines, or working on a project, every step should be taken in writing and kept organized. That way, if a dispute erupts, an accident occurs, something is not completed, or a rule is broken, you will have a record of every prior step and will be able to handle the matter quickly, effectively, and objectively.

Take a look at your policies.

It’s important to make sure that everyone in your business is on the same page and ready to work together. When is the last time you updated your employee handbook? If you asked a random employee about a policy, would they know it? As you head into the new year, take a look at your policies to make sure that they are all still applicable, they all still make sense for your company, and they cover all of the bases. If that is not the case and you make new policies, make sure that all of your employees are well aware of the changes. This brings us to our next point.

Communicate.

This may seem like a no-brainer, but when the workday gets busy and everyone is overwhelmed with their own work, sometimes communication falls by the wayside. If you aren’t holding regular meetings, consider holding team meetings on a monthly basis (at least) in order to discuss work and ensure that everyone is aware and on the same page. In addition, going hand in hand with the point about organization, make sure that your employees are aware of all company business (that can and should be divulged).

About Axis Insurance Services

At Axis Insurance Services, we aim to help our customers identify their exposures and protect themselves. Founded in 1999, we offer insurance programs to a wide variety of professionals and industries including attorneys, real estate, healthcare, architects, and more, and also have a wholesale division. We pride ourselves on offering flexible insurance coverage tailored specifically to each customer’s needs. To learn more about our solutions, contact us at (201) 847-9175 to speak with one of our professionals.

Leave a Reply

Your email address will not be published. Required fields are marked *