When selecting their insurer and insurance broker, there are fleet operators whose only concern is the cost of insurance. Year in and year out this is their sole determinator and this is what their choice is based on. Let’s be clear. While the cost of insurance is important, we are seeing a real divergence with buyers who balance this decision with the value of human life, costs of accidents and the culture around the health and safety of the workforce.
We work with all sorts of buyers – we really do! It should come as no surprise that insurers do differentiate in pricing and acceptance of risk when they are able to see a proactive approach to risk management. Where we can show good risk management we get better deals. If your company is facing a list of “No Quotes” from the market, you might well be suffering from an inability to show how you manage risk, relying instead on an annual review of chance. Agree or disagree – either way it makes our job as insurance brokers tricky.
This report from Fleet News talks about Fleet Safety in more detail – it’s a viewpoint that Anthony Jones Insurance Brokers fully supports.
Key Points From The Fleet News Fleet Safety Report
The report makes the following key points:
- Driving is dangerous – 1/3 of all road fatalities and 1/5 of all injuries occur in driving for work accidents.
- Risk Understanding and Management – ability to demonstrate this is hugely important internally and externally with insurers.
- Claims Reporting – immediate and consistent processes enable speed of response = time and money.
- Drug Driving – it’s on the increase. Testing either randomly or on suspicion is becoming more common.
At Anthony Jones we write regularly on Fleet Risk Management.
