Tempo Caribbean director Arie van Hoven mapped out his company’s risks by taking the ENNIA Risk Assessment. From the conversations he had with his Account Manager Tini Lasten and specialist Shairlon Balentina, he learned that temporary employees run the risk of being held liable for any damage caused to customers or customers’ belongings. Luckily, this doesn’t happen very often, but when it does, the financial impact can be huge. Tempo did not want to bear this risk (anymore).
“Tempo and ENNIA have had a close working relationship for years, and the two businesses have complete trust in each other. We’d already been working together on pension plans. Then we spoke to Shairlon about liability insurance. We got along immediately, and I knew we would be working together on this insurance as well. Liability coverage is not always something you think about, but this new ENNIA product is easy to understand, inexpensive, and is customizable for each business sector. Now I can let my employees start working with peace of mind!”, says Arie van Hoven. ENNIA Corporate Insurance specialist Balentina adds: “It may sound strange, but I always try to figure out how a company can insure as little as possible. Risks can often be drastically reduced just by taking some simple preventative measures. However, this particular risk was high enough that it could severely impact the business, and those types of risks are the ones you want to insure.”
Tempo Caribbean is an HR Service provider with over 25 years of experience, and the company handles everything with professionalism and quality. Tempo Caribbean provides temporary staff, payroll services, recruiting, and assistance with special projects. “We pride ourselves in helping our customers find the best solutions for their needs.”
Risk = Probability x Impact
The point of the Risk Assessment is to estimate the probability and impact of each risk. This means figuring out the odds of something going wrong, and the impact that it would have on the company. The odds of damages occurring can often be reduced by taking preventative measures, or by simply avoiding certain situations. The same applies to the impact from an accident or unforeseen situation. If the potential impact of such an occurrence would severely affect the company, it’s advisable to take action, by transferring this risk to an insurance company for example.
ENNIA’s specialists are trained in recognizing risks and in knowing what measures can reduce them. These specialists work with the business owner to help them assess which risks are worth bearing and which ones should be insured.
