As an Alarm contractor, you’re dedicated to providing services that protect people, places and things. But are you as good at protecting yourself? You need to be. Claims have a devastating impact on the reputation and financial health of an alarm company’s operation. Here are five ways to minimize your business risks.
1. Keep Your Word – and Put It in Writing
Bad things can happen through no fault of your own. When they do, you’re exposed without a solid contract. So make sure your contract sets realistic expectations for things you control: the work you perform and the services you provide. Clearly identify which responsibilities are yours and which are not. Contract clauses that limit your liability and/or require another party to indemnify you or hold you harmless can be an alarm contractor’s best friend. More importantly, pay close attention to contract terms that seek to transfer risk to you by making you responsible for another party’s errors or mistakes.
2. Be a Role Model
When employees think something is important to you, it becomes important to them. Build a culture of safety and responsibility through regular discussions at the workplace and on the road. Encourage employees to report unsafe practices in your shop or on the job. An established job safety system creates industry respect and potential business opportunities.
3. When in Doubt, Report It Out
Accidents will happen. Reporting them on time is the first step to a successful defense. Memories fade and evidence can be lost or destroyed, so report your claim quickly. Early reporting gives us the opportunity to investigate and learn. You’re never alone in the process. For litigated claims, we provide skilled and proficient alarm counsel to protect your interests.
4. Update Knowledge With Training
Experience counts but continuous training is key to managing risk. Professional associations and vendors are a great place for industry-specific and technical training, especially with constant change in the industry. In addition, The Hartford offers existing policyholders a secure site where hundreds of safety and risk management materials are available for review and download.
5. Put Your Trust in Us
Buy insurance with added value. When a loss occurs, you should have ready access to claims reporting options and professionals who can expertly handle the unique exposures you face.
The Hartford’s Risk Engineering experts provide tools and resources to help you think and act safely, reducing the likelihood of future claims. Our adjusters have honed the skills essential for alarm claims. We provide concierge service, designate contact points for claims service issues, analyze loss trends and identify coverage enhancement opportunities. Anyone can find a policy. Let us help you find one that best covers your needs. We want to be your partner.
Learn more about The Hartford's Alarm Contractors Insurance Program. Download our flyer, call 800-533-7824 or email firstname.lastname@example.org. Get to know our other open access and administered programs.