Insurer to reward effective and inventive risk management initiatives

Insurer to reward effective and inventive risk management initiatives | Insurance Business

Insurer to reward effective and inventive risk management initiatives
Vero is appealing to the insurance industry to nominate companies that have demonstrated effective risk management for its ninth annual risk management awards.

The awards are open to Vero customers who have some of the most effective and inventive risk management initiatives undertaken by Vero customers.

The three RM Advancer award categories are property, liability and motor vehicle. To be eligible clients must be a BRW Top 1000 organisation or have annual revenue of $250m or more.

Government bodies, private companies and non-for-profit organisations of a similar size are also eligible.

Winners receive risk management consulting hours from Vero’s team of risk engineering professionals.

“Business owners are now increasingly aware that risk management is a critical investment and are seeking out advice to manage their risks,” said Darren O’Connell, executive general manager commercial portfolio with Suncorp Commercial Insurance.

“By working in partnership with brokers and insurers to manage risks, many businesses are able to broaden their insurance coverage and reduce their premiums.

“The outcomes that can be achieved through best-practice risk management are beneficial for all parties. These awards are all about highlighting and rewarding those customers and brokers who strive to achieve these outcomes."

“An extremely high-quality pool of finalists and nominees entered the awards last year, which was very encouraging. It showed how many businesses have realised the value of effective risk management,” said O’Connell.

“Stadiums Queensland won the Property award for its flood mitigation works at Suncorp Stadium and the Brisbane Tennis Centre, while Echo Entertainment won the Liability award for its plans to minimise slips and falls at the Star casino precinct in Sydney.

“Elders took out the Motor Vehicle award for its initiatives to improve driver safety throughout the organisation. The Newcastle Coal Infrastructure Group was also highly commended for their strong awards submission.”

Nominations open on 1 July and are due by 29 August, 2014.

RM Advancer finalists and their brokers will be invited to attend the awards night at Melbourne’s Eureka Tower on 23 October 2014.
To find out more about the awards, click here.