Waste and Recycling Insurance – The ins and outs

The waste and recycling industry is vital for keeping communities clean and providing environmentally friendly ways to reduce waste. Due to heavy investment in evolving technology and government support, this industry continues to grow. But, it also remains hampered by its own methods, which are perilous for workers. The dangerous nature of waste and recycling work can make insurers wary. But, without bespoke waste and recycling insurance, you risk letting your business go up in flames.

Who It Covers

The waste and recycling industry encompasses a wide variety of businesses differentiated by the materials they handle, the methods they employ and the equipment they use. Daily operations at some waste and recycling businesses can be radically different from those of other businesses in the same industry.

What links these different businesses together is that they all interact with waste materials. The broad range of businesses in the waste and recycling industry has pushed insurers to offer policies which can address the industry’s diverse needs. Waste and recycling insurance policies can cover the following businesses:

  • Skip hirers
  • Waste management
  • Landfill operations
  • Incineration plants
  • Waste to energy plants
  • Trade waste collection
  • Recycling operations
  • Consultants
  • Waste brokers

This list is not exhaustive. At Direct Insurance Corporate Risks we can work with your business to ensure it is covered. If you work with waste and recycling, we will fashion a policy that is perfectly tailored to your business.

Common Covers

The wide disparity between businesses in the waste and recycling industry means that waste and recycling insurance is not one-size-fits-all. You need a bespoke policy to cover your business’ distinct risks. Your policy should at least include the following common covers:

  • Employers’ liability
  • Public liability
  • Property damage
  • Business interruption
  • Fixed and mobile plant and machinery
  • Environmental impairment liability
  • Motor fleet

Policies vary among insurers for many reasons. Ensure yours addresses all of your business’ risks.

Common Extensions

Because waste and recycling policies are usually tailor-made for businesses, insurers must be able to offer a variety of options for businesses to choose from when constructing the best bespoke policy. Some common extensions include:

  • Legal expenses
  • Contingent motor liability
  • Sudden and accidental pollution
  • Defective premises
  • Spoilt melts
  • Personal accident
  • Clean-up costs
  • Landfill sites and waste tips

Again, this list does not represent the entirety of waste and recycling policy extensions. Talk to us for a full list of offerings to make sure your business is protected on all sides.

Common Exclusions

Although waste and recycling policies may seem like a blank slate, ready to be filled with a mixture of covers unique to your business, there are certain covers which the majority of insurers will always exclude. These exclusions include the following:

  • Asbestos and lead-based paint
  • Nuclear hazard
  • Natural radioactive material
  • Underground storage tank(s)
  • Divested location and property
  • Communicable diseases

Check your policy to find out what your exclusions are, since there is no standard waste and recycling policy. You may be able to cover normally excluded hazards by paying higher premiums.

Bespoke Is Best

Your industry may be dangerous, but that does not mean the future of your business needs to be. Rely on the insurance professionals at Direct Insurance Corporate Risks for the resources and expertise to safeguard your waste and recycling business.

Motor Fleet Risk Management – All You Need to Know

Managing a motor fleet is exhausting work. Whether your business’ fleet consists of five or 500 vehicles, gathering them all together and managing their collective risk can feel like an endless exercise in futility. While addressing one specific risk, three more different risks can pop up, all demanding your immediate attention.

Instead of addressing risks as they develop and perpetually playing catch up, invest in motor fleet risk management strategies that thwart problems before they appear.

Managing Risk

Risk management is a pre-emptive, habitual strategy aimed at analysing risks and implementing processes to reduce or eliminate them. A concerted risk management effort comes with many benefits—it can lower your premiums, reduce business disruption, protect your employees and much more.

Although the process will vary slightly according to your needs, the five basic steps for analysing your business’ risks, listed below, should be the bedrock of any organisation’s risk management programme:

  1. Identify the hazards.
  2. Determine who might be harmed and how.
  3. Evaluate the risks and decide on precautions.
  4. Record your findings and implement a plan of action.
  5. Monitor and review the plan.

Following these steps can help you isolate and eliminate your business’ biggest risks.

Pricing Motor Fleet Policies

If you purchase a motor fleet insurance policy for your business, be aware that your premiums will be highly dependent on your business’ past claims experience. But an unfavourable claims history does not necessarily preclude a favourable and affordable motor fleet insurance policy—good risk management can translate to vastly improved policy terms.

Analysing Claims and Accidents

As part of an effective motor fleet risk management strategy, investigating your business’ past accidents can slash claims costs. Start by analysing the conditions that led to your business’ past accidents and any preventive measures taken to reduce them. Did they work? If not, consider new accident-reduction programmes.

Rely on your insurer to supply the past accident data that will serve as the foundation of your analysis. A typical claims and accident analysis should include the following information:

  • Accident circumstances such as day, date, time and location
  • Vehicle(s) involved
  • Driver(s) involved
  • Claim types
  • Cost analysis

Surveying Your Fleet

Some motor fleet insurers employ specialist fleet surveyors tasked with performing a more in-depth analysis that identifies significant problem areas and provides recommendations.

Insurers will sometimes provide surveys for free under the condition that the insured complies with the survey’s findings. Any resources the insurer expends on free surveys are expected to be recouped via the insured’s survey-compliant improvements and subsequent reduction in claim costs.

Because fleet surveys are more extensive and detailed, business owner and manager investment is central to success. Unless owners and managers are ready to support improvement initiatives spurred by the survey’s findings, the fleet survey will probably not achieve all of its objectives and will likely leave some risks unexamined.

Controlling Your Risks

Use the results from your internal analysis or external fleet survey to streamline processes and promote a positive health and safety culture. Apply the recommendations to your business’ management controls such as managerial structure, general processes and drivers’ handbook. Typical management controls which dictate how your fleet runs include the following:

  • Working hours policy: Consider the maximum number of driving hours, breaks and times of the day when driving should take place.
  • Working conditions: Interview drivers to figure out what practices need changing.
  • Route and workload planning: Study whether there are more efficient ways to allocate assignments and chart routes.
  • Mobile telephone policy: Enforce a mobile policy that complies with the law and stresses driver safety.
  • Safety equipment: Establish clear rules for using safety equipment such as seat belts, first-aid kits and fire extinguishers.
  • Vehicle controls: Adopt a ‘clean car’ policy which prohibits leaving any valuables in view and dictates that drivers can only park in secure places.
  • Responsibility for vehicles: Assign specific vehicles to drivers who are responsible for their condition.
  • ‘How’s my driving?’ schemes: Some businesses include stickers on their vehicles encouraging members of the public to call in with complaints or compliments, encouraging drivers to drive more carefully.

Reining in Your Risk

Reining in your business’ motor fleet and driver risks can feel like trying to hold water in the palm of your hand—no matter what you do, some risks slip through the cracks. Trust the insurance professionals at Direct Insurance Group to help you create an effective motor fleet risk management strategy and find you the perfect insurance policy that comprehensively covers all your needs. Call us at 01277 844 360 to start bolstering your business today.

Insurance Times Award 2017 Shortlisting

It is with great pleasure that we announce that Direct Insurance Group has been shortlisted at the Insurance Times Awards 2017 for Schemes Broker of the Year category.

The award ceremony, takes place on December 7th, at the InterContinental Hotel beside the O2 in London, we will see a night of celebration across the industry as a collection of insurance greats come together to reward a year of hard work.

DILM

Status

We’re excited to be exhibiting at the Contamination Expo Series 2017 at ExCel London on 27th and 28th of September. The best bit is that it’s free to attend, so maybe we’ll see you there?

The Expo showcases the latest in modern strategies, techniques and technologies currently used across the industry and we’re just one of 150 exhibitors.

There’ll be 120 expert-led seminars and six zones dedicated to six different sectors of the contamination field.

The Land Remediation Expo showcases the latest innovations in the diagnosis, management and remediation of contaminated land. The Geotechnical Expo demonstrates the latest knowledge, solutions, and innovative designs in geotechnical engineering works.

With another five zones full of the latest contamination solutions, we think that this Expo just might be worth a visit.

Come and see us at Stand C4174.

Find out more at http://www.contaminationexpo.co.uk