Risk Manangement Assessment

[blondie]

My main business is a motel but I also have a bike hire business based at the motel which services people wishing to ride The Great Southern Rail Trail.
Of course I have Public liability but would be able to sustantially decrease my Premium if I was able to do a RMA I have no experience of this and really can't afford to have it done by a professional. Is there any one out there who has done one and can offer me advice where to start etc. Or does anyone know where I get could info on the net, as I have not been able to find anything.

[peppie]

I would approach your insurance company (I prefer to work through an agent because then they do the chasing up for you) and ask them just what needs to be in the RMA.

I would imagine all you need is something along the lines of a safety and maintenance program that any of your staff MUST follow. Such as the bikes maintained to such and such a standard, a list of things checked before each outing, instructions given to users, maybe a statement on the hire form that the hirer understands the risks etc. and have been instructed in use and safety. (You cannot legally transfer your responsibility, the provider can still be libel if there is injury.) You might add that certain bikes are only to be hired to certain age groups or fitness levels etc.. Anything that makes you look like you are bending over backwards to minimise the insurance company's risk. Then you present a draft copy for their approval.

[Paul C]

Hi Blondie,
A RMA does not need to be a scary thing. If you look at the business from the outside in (and this is where someone independant is handy) document "What" could happen, "What" is the liklihood of it happening, (L), "What" is the consequence of it happening, (C). the risk is the L X C. Then document and implement what controls are required to minimise the risk. All risk does not need to be controlled. Identified minor risk may be accepted as to control it does not justify the expense or effort. I usually find that the exercise of identifying and documenting the risks will demonstrate a level of due dilligence which should assist your insurance to reassess your premium.


Paul C

[RPL]

Hi Blondie,

Just following up in case this went into the 'too hard' basket!

A RMA does not need to be a scary thing.

Exactly! Just scale it down to suit your precise business needs, and keep it simple.

A simple yet very good summary can be found here on how to go about it: Project Perfect


And the most basic template for a RMA plan can be found here: Risk Management Planning Template

hope this helps,
cheers,
Richard