Throughout early history, there were brave people who ventured out before the others in the tribe. They saw what was over the next hill, mapped out what they found, and learned where the dangers were. Over time, this spawned cautionary tales, like Little Red Riding Hood, warning children of the risks of going into the forest alone. Later, there were well-worn sayings: don’t skate on thin ice, look before you leap, let sleeping dogs lie. Then, more modern warnings, like never touch the third rail in a subway. All these lessons helped everyday people like you and me avoid life’s inevitable pitfalls, becoming – by the skin of our teeth – relatively healthy, intact grown-ups. Of course, the underlying purpose of these warnings was simple: limiting risk. People in business, particularly retail fuel marketers and station owners, have long understood the importance of that objective. That’s why the Spirit® Brand has had a long association with one of the top providers of risk management services in the country – Federated Insurance.
Established in 1904 by farmers and business owners looking to pool their resources, Federated Insurance grew through the years to provide property coverage for equipment dealers, contractors, and petroleum marketers, before expanding into liability, life insurance, workers compensation coverage, estate planning, and loss prevention. Now widely renowned as a leader in asset protection, Federated offers world-class risk management services that are hailed by industry associations across the nation who trust them to protect their businesses.
At its core, risk management fundamentally involves recognizing, assessing, and prioritizing risks. That said, the goal of any risk management effort is not to remove all risk, but instead to preserve and complement a business’ value by helping owners make smart decisions on risk-related issues. In short, as Federated maintains, they don’t just protect you when disaster strikes, they help you prevent the disaster altogether.
For example, Federated modifies and shapes their insurance and risk management offerings to fit your business’ specific needs, while also providing you direct access to Local Field Risk Consultants: highly-skilled specialists who help you eliminate as many potential dangers as possible. Further, business owners can utilize Federated’s Risk Management Resource Center to learn how to promote a culture of risk management in your business with one-on-one coaching from Federated’s team, as well as having access to an extensive library of materials designed to keep your business safe.
What is likely Federated’s most celebrated service, though, is their complimentary Risk Management Academies that are tailored to the needs of individual industries. They provide a valuable opportunity, through multi-day seminars, for businesses to learn best practices and network with industry peers facing similar challenges. While there, participants learn to prevent losses impacting their bottom line, gain skills in identifying and addressing areas of risk, and communicate with insurance professionals that are committed to helping your business thrive.
Now more than ever, risk management is critical. The risks that today’s businesses face have grown increasingly more complicated and threatening, routinely driven by the world’s forever changing and morphing technology. However, if we continue to monitor our environment for new dangers, and make use of proven risk avoidance techniques, we can stay ahead of the curve.
There’s no such thing as a risk-free life, but there are warning signs out there that can help limit risk – if we know where to look. When it comes to your daily operations it’s not only extremely wise but also good business sense to seek guidance from experts who can help you steer clear of looming threats. Highly experienced professionals, like the experts at Federated Insurance, have the skills and resources to reduce potential areas of risk, enabling your operations to identify and sidestep potential dangers while allowing your business to flourish. As another old saying goes: Forewarned is forearmed. Find out what’s over the next hill. And keep a lookout for red flags.
At the Spirit® Brand, we’re here to answer your questions and point you toward the resources that can help you maneuver through the hazards and pitfalls of operating a modern-day business. Contact us at [email protected] and let us know how we can help.