What is the single biggest fear for any business owner? It’s not just the cost of insurance, but the moment a loss occurs, and you discover you’re not as protected as you thought. This is a common pain point for many business owners, who often view insurance as a simple, transactional purchase. They get a quote, pay their premium, and hope they never have to use it. But what if your insurance broker could be more than just a provider of a policy? What if they could be an active partner in protecting your business, helping you avoid claims before they even happen?
At McLean & Dickey, we believe the role of a modern insurance broker extends far beyond the sale of a policy. Our mission is to ensure peace of mind by providing our clients with the most complete insurance solutions. This isn’t just about finding the right coverage; it’s about being a trusted advisor, a true risk management partner who works to protect your business from the ground up. We’re your neighbors, friends, and colleagues, and we understand your insurance needs because we’re part of your community.
Here’s how an independent broker like McLean & Dickey can become your essential risk management partner.
Identifying and Assessing Your Unique Business Risks
Every business, from a small contractor to a large manufacturer, faces a unique set of risks. A generic, one-size-fits-all policy can leave you with significant gaps in coverage. As your risk management partner, we work to identify and assess the specific threats your business faces.
Our experienced team has decades of experience dealing with insurance companies and their claims departments. We use this combined knowledge to conduct a thorough risk assessment, which goes beyond the standard forms. We ask the important questions:
- What are your operations? Is there a risk of injury to a customer on your property, or are your employees exposed to hazards?
- What assets are you protecting? This includes not just your physical building but also your equipment, inventory, and data.
- How do you handle data? With the rise of cyber threats and AI, protecting your business from data breaches and cyber-attacks is more critical than ever.
- What are your biggest liability exposures? This could range from product liability for a manufacturer to professional liability for a health and wellness provider.
For example, a contractor might have excellent general liability insurance, but without builder’s risk insurance, a sudden fire or vandalism at a job site could be financially devastating. A marina operator has unique legal liability risks related to the boats they service and store. Our role is to identify these nuanced risks and ensure you have no gaps in your coverage that would leave you unprotected.
Proactive and Preventative Strategies
Once we have a clear understanding of your risks, the next step is to help you minimize them. The best claim is the one that never happens. This is where a proactive broker truly earns their value. We don’t just react to losses; we help you create strategies to prevent them.
This can include:
- Property Risk Mitigation: Simple strategies can make a big difference. We provide advice on best practices for reducing the risk of water damage, such as regular inspections of pipes and proper maintenance of sewer systems. We can also advise on fire prevention measures and security systems to deter theft and vandalism.
- Liability Reduction: For businesses that welcome the public, we can offer guidance on maintaining a safe environment. This includes simple yet effective measures like ensuring proper lighting, promptly cleaning up spills, and clearing walkways to prevent slip-and-fall incidents.
- Cyber Security Protocols: In an increasingly digital world, we help you understand the importance of robust cyber insurance and can provide recommendations on preventative measures, such as employee training and implementing strong network security protocols. According to a Forbes article, the average cost of a data breach rose to a record $4.35 million in 2022, highlighting the financial importance of robust cybersecurity.
- Fleet and Vehicle Safety: For businesses with commercial vehicles, we can advise on fleet safety programs, driver training, and telematics to monitor driving behaviour and reduce the risk of accidents, which can, in turn, lower insurance costs.
By focusing on these preventative strategies, we help you create a safer work environment, protect your employees and customers, and ultimately, lower the likelihood of having to file a claim.
Ongoing Advice and Advocacy
Risk management is not a one-time event; it’s a continuous process. As your business grows and evolves, so do your risks. A risk management partner provides ongoing support and advice. We are available for discussions, to help with policy changes, and to recommend adjustments as your business needs change. Our goal is to make the insurance purchasing experience as smooth as possible and give you the best possible experience when purchasing insurance.
And if a claim does occur, we stand by you as your advocate. We will represent you, our client, and not the insurance companies. This means we will advocate on your behalf to negotiate the best possible settlement in the event of a claim. You don’t have to navigate the complex claims process alone; we’re here to guide you through it, from the initial paperwork to the final settlement.
In a world where business risks are constantly changing, from evolving cyber threats to new regulations, having a risk management partner is invaluable. At McLean & Dickey, we’re not just selling policies—we’re providing a partnership rooted in trust, expertise, and a genuine commitment to the well-being of our community.
Ready to find an insurance partner that goes beyond the policy?
Contact McLean & Dickey today to discuss how we can help you identify and manage your business’s unique risks, ensuring your long-term success and peace of mind.