Risk Management

Risk management & risk assessment services for business

​It’s a fact that all organisations face a multiplicity of risks, and the more risks you can identify and offset, the better protected your business will be to cope with the unexpected. Increasingly, it’s legislative requirement, regulatory compliance, or pressure from insurers that is driving firms like yours to identify, plan for, and mitigate the risks you face. On paper it’s a chore; in reality it can be a serious challenge, especially if you lack the resources or technical knowledge you need to optimise your risk exposure.

99% of all UK businesses employ 249 people or less¹. In 2011, business insurance premiums for the engine room of UK plc rose by 7.1%, making it the third fastest rising overhead after transport and energy costs². Insurers paid out £15.6 million a day for commercial vehicle claims, business property damage plus business liability, professional indemnity and public injuries on commercial premises³. That’s nearly £6 billion worth of commercial interruptions a year across a wide range of severity in these categories alone. It begs the question: how much time, hassle and money could your business save through a superior understanding, mitigation and control of the risks you face?

No organisation wants to fall foul of regulators, or lose the confidence of its customers or people – especially when the consequences of an incident can mean damage to sales, loss of trading ability or even imprisonment. A well planned and alert risk management strategy clarifies the varied risks you face and how they translate into clear and present threats to your business. Anticipating these threats is your key to best practice, a healthier bottom line and an enhanced commercial reputation.

Good risk management is all about identifying the potential risks and threats to your people, your assets and your business – and then mitigating them appropriately. Then there’s the managing of any aftermath, should an event occur. Who pays for it? How do you recoup the financial damage done through loss of business, loss of reputation, loss of customers, or loss of resources? What about the impact on your contracts if events beyond your control prevent you from fulfilling them?

Risk management planning and advice that strengthens your business

• A safe pair of hands: a partner you can trust, backed by experience, commitment and a proven track record
• Innovation that drives value for money: we’ll help lower your risk profile sustainably for the long term
• Partnership approach: a total commitment to understanding your business mean we can fill the risk gaps other strategies may leave behind
• Your bottom line in mind: our lean business model keeps our structure flat and overheads down. This lets us deliver more expertise for less – face-to-face or using advanced, cost-effective online tools
• Nationwide capability: part of a leading independent, national insurance broking business, we’re always able to deliver a local service – wherever you are

We can assist with risk assessments across the following areas from our in-house risk management team, or with carefully selected partners:

• Property Risk Management: reconfigure risk, with services ranging from property surveys and electrical inspections, to water leak testing and insurance valuations
• Health, Safety & Environment: we believe Health & Safety should support your business, not stifle it. From simple phone-based advice to specific consultancy and training, our services range from Health & Safety planning, auditing and risk assessments, to specialist Legionella testing, noise testing, air sampling and asbestos surveys. We can also provide training courses and certification for your staff, accredited by the likes of IOSH (Institute of Safety and Health) and UKATA (United Kingdom Asbestos Training Association) to help you develop your in-house skills. We can help you set up environmental management systems and provide auditing and training
• Fleet Risk Management: from regulation and operational practicalities, such as licence checks and driver training, including Driver CPC (Driver Certificate of Professional Competence) training, to day-to-day overheads and the hidden costs of claims, we’ll help you reduce your risk exposure to enhance efficiency and lower costs
• Business Continuity Management: whether it’s fire, fraud, natural disaster, intellectual property or supply chain protection, we’ll help you deploy a business continuity plan that ensures your business is robustly protected against the external risks that threaten your stability and ability to recover
• Human Resources Risk Management: the ever widening of employment and discrimination law, plus increasing employee awareness of their rights, means that employers of all sizes face the increasing risk of employee litigation. We can help with HR advice, policies, and services – all backed with insurance cover – so you can employ staff knowing you have the right processes and support in place, allowing you to concentrate on your business

You’ll find all the risk analysis and management services you need to help build your business for the future. Our approach is geared around a strong service ethic and focused on the risk advisory values you demand.

Oval Risk Services is a member of The Royal Society for the Prevention of Accidents (ROSPA) and accredited trainers for the Institution of Occupational Safety and Health (IOSH) and the British Safety Council (BSC). For superior risk management performance, come and talk to us: we’re just a call, or an email away.

If you’d like to discuss how we can help add value, agility, performance and protection to the way you manage business risk, then call 0800 612 6223 or email ib-enquiries@theovalgroup.com.

1 Department for Business, Innovation and Skills, 2011
2 Business Cost Index, Centre for Economic and Business Research, 2011
3 Association of British Insurers (ABI) Key Facts Report, 2011