Doing business is always associated with risk factors. What was planned and what was realized do not necessarily correspond to each other, instead something unforeseen – a risk – can influence the advance plans. This generates costs for which there are no provisions. This applies to cooperatives, too. Sometimes, risk prevention ja risk management planning could prove vital.
As a part of risk management, special risks can be brought under the cover of insurance companies. The damage and personal risks of a cooperative are considered “under control” if its insurance needs are carefully identified, an insurance plan is drawn up, the risks are taken care of with sufficient cover, and the insurance needs are under continuous review.
The prices and terms of insurances vary from company to company. By competitive tendering different companies and insurances, you can save a pile of euros.