Insuring your business Coursework Example | Topics and Well Written Essays - 250 words

Insuring your business - Coursework ExampleIdeally, the common risks associated with cosmetics businesses include fire and health risks, especially for employees handling the cosmetics who are open(a) to the different chemicals used during the manufacture of the cosmetics. Equally, the chemicals used are highly reactive and could easily explode if exposed to fire. The company has not had any legal claims previously however, there was once an instance of contract breach in which the supplier failed to deliver goods in time and the company suffered a significant loss. Because the company had interpreted a comprehensive cover, the insurance claim tool cover of all the costs as well as the fees paid to the attorney. My company is unique, as it has conventional an expanded customer base and, as such, deals in timely delivery lest the customers fail to get their products in time. As the operating manager, in order to draw the risks associated with the business, I have characterized all occurrences that seem to pose threats and ascertain the likelihood of such occurrences. With availing enough resources for every operating department, the company saves a lot from trim back expenses as most risks are prevented before occurrence rather than mitigation after their