Keep Friday the 13th off your payroll

By: King Price

VAT has gone up, and business confidence is trending downwards… All while your employees are handing in duvet day notices to let you know that they won’t be facing this Friday the 13th on the clock, but are rather taking their chances in their underground safety bunkers.

Accidents may still happen, servers may still crash, laptops may spontaneously combust, and your entire shipment could go up in flames (literally)… But by royal decree, on Friday the 13th, you can walk under the ladder to check on your office revamp, because it doesn’t need to be all bad luck.

“The truth is, running a business will always go hand-in-hand with a level of risk, regardless of what day it is,” says Wynand van Vuuren, spokesperson at King Price. “But with the right protection, you no longer have to worry about the aftermath on your bottom-line… Not on Friday the 13th (or any other day of the year).”

According to the Allianz Risk Barometer 2018, business interruption and cyber incidents dominate the risk landscape for companies of all sizes and sectors in 2018.

Even the slightest interruption to your business can lead to a major loss. “When you start thinking about all the scenarios that could bring your business to a standstill, the risk can easily seem unmanageable… The landlines are down, your team can’t access the office, or there are strikes that affect your castle… It’s close to impossible to ever put a plan in place to address every eventuality,” says van Vuuren. “Rather than run your mind on the hamster wheel, just hand the unpredictable over to your insurers. Let them do what they do best, while you do what you do best.”

Of course, as your business gets more complex, the risks start piling up… It’s not always as clear-cut as insuring your office furniture and protecting yourself against liability. If you’re engineering our future with your team of 2, or 2,000, there are a multitude of shields you should erect for your business to ensure it remains up-and-running.

Dedicated cover like engineering insurance has been engineered (see what we did there) to protect specialised businesses against the niche risks that engineering contracts, plant and works encounter, as well as cover for third party liability in this space.

“For instance, machinery breakdown will cover you for sudden and unforeseen damage, whether or not it’s in use at the time of the incident leading to a claim, and while it’s being dismantled, moved or re-erected to be cleaned, inspected, repaired or installed elsewhere,” says van Vuuren. “While machinery consequential loss will address those looming interruption concerns by covering against interruptions to, or interference with, your business due to damage.”

King Price knows that not all businesses calibrate or estimate as part of their offering. For many companies, the biggest risk lies at the tip of a finger… As businesses begin to hold more confidential and business-critical data than ever before, cyber security and privacy risks are bigger than ever.

“All businesses are susceptible to data security breaches these days, and no 1 is immune to artful hackers whose sole purpose is to gain unauthorised access to your data,” says van Vuuren.

Cyber security incidents are increasingly common, and many organisations now understand that it’s not ‘if’ but ‘when’… Don’t assume you won’t become part of the stats… Be cybersure instead, and ensure that your employees are clued up on cyber security.

And just like that, by being more aware, you’ll soon find that you’re also less unlucky. So keep calm, throw some garlic in your briefcase (just in case), make sure your insurance is up-to-date for when the odds seem stacked against you. Then, step out safely, in confidence. Even on Friday the 13th.