Whitbread's Claims Manager Receives Women In Insurance Award for Excellence 2019
Whitbread Insurance Brokers are excited to announce our very own Renee Cassidy as the recipient of the Women In Insurance Award for Excellence, 2019.
Detailed planning and preparation is essential to protect the liability exposure and brand reputation of your Strata Management business in a crisis. Part 3 of our Crisis Management series builds upon Part 2, outlining in detail the crucial elements you need to consider to ensure you have the capability to implement a robust Crisis Management Plan.
When formulating an effective Crisis Management Plan, there are 8 crucial elements you need to consider. These are featured below in Figure 1. In Parts 1 and 2 of this series we discussed 3 of these in detail:
Elements vital to an effective crisis response:
If you do have a crisis situation at hand, having a pre-prepared communications plan to reference is both essential and incredibly valuable. A Crisis Communications Plan will be pivotal in preserving the reputation of your business, and most importantly, your OC clients.
Below is an example of what we recommend you do when preparing your Crisis Communications Plan:
We recommend addressing the 5 key themes below:
To ensure your crisis response plan is effective, it is extremely important that it is maintained and managed to reflect your current environment, and responds to those risks that could potentially cause a crisis e.g. terrorism, a fire, flooding, disease etc. To ensure your plan is maintained and governed appropriately, you need to determine the individuals responsible for the following:
In addition to assigning the roles and responsibilities above, it is imperative you ensure each individual is diligent in carrying out duties within their allocated capacity.
It is essential that you know what to do as a team if a crisis is declared, and that you have almost everything needed to manage the event at an arms distance.
As a start, we recommend you determine the following to ensure you are in a state of readiness:
One of the most important aspects of managing a crisis is managing the people impacted by the event, whether it be direct or indirect.
When planning for the management of various crisis scenarios, we suggest you consider the following:
Record keeping is key during a crisis event. Logging careful records of what your business said, and how it behaved during a crisis can be a valuable resource for the future, particularly if the response is questioned in a court of law. Should an investigation ensue in the aftermath of a crisis, well-documented records can form helpful evidence to demonstrate that your crisis team made every reasonable effort to ensure the situation was managed appropriately, with the best interests of key stakeholders at heart.
We recommend you record the following:
While record keeping is an extremely important component of your Crisis Management response, it is also necessary to make sure you documented information in a practical way. We suggest setting out a basic plan as part of your crisis management plan.
While the above is by no means an exhaustive guide on Crisis Management Planning, we hope this series of articles has been helpful in providing some direction on how you can begin to formulate your plan.
This insight article is not intended to be personal advice and you should not rely on it as a substitute for any form of personal advice. Please contact Whitbread Associates Pty Ltd ABN 69 005 490 228 Licence Number: 229092 trading as Whitbread Insurance Brokers for further information or refer to our website.
The Victorian Branch of Women in Insurance presented Renee with this prestigious award at their annual AGM in August.