The honest inventory.
HOW TO FIND THEM
Walk through your business and ask what could stop it, damage it, or cost it money.
CATEGORIES TO CONSIDER
Damage to property or equipment Loss of stock Theft Harm to a customer or member of the public A mistake in your work causing loss Being unable to trade Losing a key person Data loss or a security incident A customer not paying A supplier failing
WHAT MOST BUSINESSES CONSIDER
Fire and theft.
WHAT ACTUALLY HAPPENS MORE OFTEN
Equipment failure A customer not paying Being unable to work for a period A mistake requiring correction
WHAT TO ASSESS FOR EACH
How likely is it? How much would it cost? Could the business survive it?
THAT LAST QUESTION
The important one.
WHAT TO DO
Insure what you could not absorb.
Manage or accept the rest.
