Washington, D.C.—No one likes to lose, especially when it comes to your own small business. Geico Commercial said it knows how many risks small business contractors face every day. Loss exposures can lead to accidents and lawsuits that can devastate even the best-run businesses. In addition to having the right business insurance coverage, it's also essential for contractors to have the right loss prevention program in place, the company said.
Geico gave five recommendations for contractors to protect their business:
- Train and re-train employees on safety. The safety of your employees and the general public should always be the top-priority. Train your employees on how to get the job done safely by teaching best practices and reinforcing on-site rules. And then do it again.
- Secure your work sites. Have first-aid kits and fire extinguishers on-site, provide written safety rules and assign safety responsibility to a supervisor. In your written job plan, identify on-site hazards such as ladders, scaffolding, temporary lights and hazardous materials and detail their respective controls.
- Oversee frequent inspections. Have a supervisor with proper safety training conduct periodic on-site inspections to identify and eliminate any unsafe practices. After corrections are made, conduct follow-up inspections to ensure of follow-through.
- Educate employees on vehicle safety. Vehicles operated by employees on the job should be covered by a commercial auto plan. Many trucks and vans used in construction are larger and bulkier than noncommercial vehicles, so thoroughly train employees on safe driving techniques unique to the vehicles they'll be operating.
- Conduct detailed investigations: After an accident or near-accident it's crucial to conduct a thorough investigation. Interview employees and witnesses and survey the conditions and any hazards involved. Determine why the incident happened, correct any flawed practices and re-train employees on precautions and safety measures.
For more information on GEICO’s business insurance, go to Geico's business website or call 866-509-9444.