Franchise Archives - Lockton Affinity

Common Inventory Risks and How to Combat Them

Carrying inventory is at the heart of your business, but comes with significant risk. Inventory dealers make significant financial investments to make sure customers get the goods and services they need how and when they expect them. To ensure customer satisfaction and the profitability of your operation, it’s important to manage your exposures properly. Here’s how to recognize common inventory risks and

May 27th, 2020|Franchise, Small Business|

Spring and Summer Driving Tips

Many drivers are happy to trade scraping windshields and snowy roads for spring showers and longer days. But spring and summer weather also present several hazards for drivers. After a long winter, it’s easy to forget just how dangerous the roads can be this time of year, so here is a new list of spring and summer driving tips. 

Spring Driving Tips

Pack Shades

May 27th, 2020|Franchise, Non-Profit, Small Business|

The Benefits and Risks of Social Media for Franchisees

Like their customers, businesses are spending more and more time online. Many franchisees now depend on social media, with more than half of franchisees saying it’s one of their top lead generation marketing channels. Social media is also a key tool for offering promotions and handling customer service.

Still, franchisees report there are both benefits and risks of social

May 27th, 2020|Franchise|

Your Guide to Working with Vendors

For modern businesses and organizations, working with vendors is key. Specialized vendors help increase efficiency, meet the needs of customers and communities and positively impact growth and economics. Yet working with vendors also involves challenges, such as the need to manage risk and minimize exposure.

The right level of insurance protection for both you and the vendor is key, so that both parties

February 28th, 2020|Financial, Franchise, Small Business|

Risk Management Tips by Industry

At Lockton Affinity, we custom tailor, implement and manage insurance solutions for a wide variety of industries. Along with customized insurance programs, we provide risk management resources, too.

Find your industry below to browse risk management tips that apply to you and your organization.

Find Risk Management Tips for Your Industry

Franchise Systems

Why Your Business Needs Commercial Auto Insurance

If you use vehicles as part of your business operations, a commercial auto policy should be included in your insurance program. Commercial Auto insurance provides coverage for vehicles in the event they incur physical damage, cause physical damage or bodily injury to others.

If appropriate, you may also need non-owned auto coverage, which protects from claims for damages involving bodily injury or property

March 1st, 2019|Franchise, Small Business|

How to Prevent Collapsing Chairs at Your Organization

A surprising number of claims come from an unexpected source: collapsing chairs. Collapsing chairs are extremely dangerous and often collapse during normal use. Many injuries can occur from a chair collapse, including:

  • Heavy bruising
  • Smashed fingers
  • Broken arms and wrists
  • Fractured pelvises
  • Severe lacerations
  • Concussions

Injuries associated with deteriorating folding chairs may require corrective surgeries, hospitalization and significant recovery times. They are extremely

November 27th, 2018|Franchise|

Tips to Minimize Franchise Risk

Whatever type of franchise you own, working to minimize franchise risks just makes sense. Protect your franchise, employees and customers from everyday risks with these best practices.

Don’t rush hiring

Pre-screen potential employees and hold one or even two interviews with the same person before hiring them. A thorough hiring process will ensure the employee is a good fit for your franchise and will

July 18th, 2018|Franchise|

Details about Franchise Insurance

Franchise insurance is critical for both franchisors and franchisees to protect the franchise system and manage compliance. Unfortunately, a franchise system has many unique challenges and often requires multiple types of insurance policies for both parties. Read on to learn about franchise insurance.

 

Typical Coverage for Franchisors

As a franchisor, you face industry risks, as well as risks from the franchise system itself.

April 3rd, 2018|Franchise|