Change is constant, and with change comes an element of risk. Knowing how to manage risk reduces the potential for negative impact on your business. It can also help reduce the cost of insurance coverage, which is linked to the risks people, properties and businesses face.
The insurance environment
Many people are seeing insurance rates go up this spring. The past year was challenging for insurance companies, with a large volume of claims and poor returns on the investments that provide the cash needed to cover those claims.
To make up the shortfall, they’ve effectively turned to policyholders or exited riskier segments of the market altogether. This has left the brokers who write policies with fewer options for clients, further boosting what policyholders pay.
Policyholders who can demonstrate that they’re a lower risk may be able to reduce their costs, however.
The security environment
Hiring a private security guard company can help reduce risk and, in turn, the cost of insurance. On the one hand, the presence of 24-hour security services protects properties against claims in the first place. Whether security guards provide foot patrols or watch over a campus of properties using bikes or mobile patrol vehicles, they’re an important way to guard against threats and reduce risks.
Imperial Security pioneered GPS tracking of its mobile patrols and equips its security guards with apps that allow them to file regular reports in the course of their shifts. This provides a record of what happened on each shift, complete with time and location information. When incidents happen, these reports provide a record of how events unfolded. When shifts go smoothly, it proves that guards were doing their job.
Peace of mind
Reports from each shift are made available in PDF format to clients. The reports provide peace of mind, reassuring clients that their properties are protected and demonstrating to insurers that measures are in place to reduce risk – and that they’re effective.
Imperial Security’s commitment to not only securing your property, but providing reports that keep it accountable, has helped it become one of the most trusted security firms in Western Canada. Since its launch in 1993, it has developed a reputation for service and innovation that means lower costs for property owners in Vancouver, Calgary and Edmonton.