Is your SME sufficiently insured to ensure sustainable business?

Nowadays, companies find themselves facing risks that were unheard of just a few years ago, such as management liability, electronic data management, supply chain risk management and environmental damage. Constant monitoring of all of these potential threats is necessary in order to keep them in check, along with the usual risks linked to your activities (fire, liability after delivery, intangible losses etc.).

1. Electronic data management

The business world is bursting with buzzwords such as cloud computing, cyber risk, data breach, hacking and cyber theft. A robust approach to cyber risk management is vital to ensure the smooth functioning of any SME. That’s why it’s so important to make sure you have good insurance against these new digital risks.

In addition to third party liability, data management can also cause you to incur damages. This is called first party loss. For example, you could encounter problems with the diffusion of viruses, personal privacy violations due to third parties leaking personal data, or the loss of your clients’ confidential information (trade secrets).

These events result in additional costs for your company: payment of fees to experts to trace and assess the extent of the data breach, damage to your reputation, communication costs (payments necessary to inform third parties that their personal information has been shared) etc. These costs, even more than in the case of damage to third parties, can be considerable.

2. Supply Chain Risk Management

Outsourcing, i.e. cheaper forms of production in countries with lower labour costs, or just-in-time delivery, can be a double-edged sword. The most efficient cost-cutting strategies are also the weakest points in a company’s production process.

If a company fails to pay close attention to this aspect, it will become dependent on its suppliers. However, these suppliers can also be exposed to risks, such as natural disasters, insolvency, transportation problems or political tension.

Whereas it is rare to find traditional insurance policies offering global coverage, we offer you insurance options which are adapted to perfectly suit the needs of your company.

3. Liability of your management company

Nowadays, numerous managers carry out their business activities by means of their own management company. These management companies are running huge risks with regard to liability, both in relation to their own company and to third parties. These risks are seldom covered by the insurance policies taken out by the company.

That’s why Vanbreda Risk & Benefits has developed a tailored liability insurance policy. Our Management Company Protector option is a financial guarantee par excellence helping you to perform your management tasks via your own management company.

4. Environmental damage

Classic insurance policies fail to offer strategic solutions for your environmental risks. A separate environmental insurance policy is a must-have as it is essential for the financial protection of numerous companies. Due to the rapid evolution of this area, the legal liability and technological risks must be constantly monitored and surveyed.

The most popular environmental insurance policies are pollution insurance which covers damages caused to company land, and pollution insurance against damages caused during activities and services carried out on land belonging to third parties.

Another popular insurance policy is civil professional liability insurance. Of course, the various types of environmental insurance can also be combined.

5. Insolvency of your customers

Credit insurance protects you against damages you may incur if your customers cannot pay their bills. As well as simplifying your debt management process, this insurance also protects your company’s growth and strengthens your position in relation to your clients.

This policy has been developed in partnership with Vanbreda Credinco, our branch which specialises in credit insurance, invoicing and debt management.

Our specialists offer you a three-part service:

  • We analyse the solvency of your clients from the moment you sign a contract with them, and guarantee ongoing monitoring of the file.
  • We allow a generous timeframe for your debt collection attempts, but you can also call on our own specialist debt collection service. The debt collection costs are included as part of the policy.
  • You are compensated if you cannot recover your money within a given period of time.

With a market share of 15%, Vanbreda Credinco is among the top three insurance providers specialising in credit insurance in Belgium.

Vanbreda Risk & Benefits is an insurance provider and independent consultant based in the Benelux, specialising in the management of industrial and professional insurance, Risk Management and Employee Benefits. Our thorough knowledge of the risks inherent in the activities of SMEs has been the key to our success for 77 years.

Your insurance is in good hands.

Vanbreda Risk & Benefits is happy to help you find a suitable prevention policy. Our expertise develops along with our customers’ risks.