Position yourself for insurability

Running a recycling operation comes with specific risks and considerations.

Most insurers pre-inspect recycling yards before providing a quote or coverage as a loss control initiative, focusing on property and operational details. When planning for insurance needs, knowing what industry carriers assess can maximize coverage opportunities.

Gas drainage methods

Is your company using a pneumatic system? Are employees trained to use the equipment?

Hot works procedures

Relating to torching and welding—do you follow ministry guidelines or a formal hot work policy?

Protocols for new employees

Are new employees trained on all company procedures? Is there a handbook and drug policy?

Buildings

Are all buildings adequately maintained and safe for employees and the public? Is the property fenced and gated?

Batteries

Are you dealing with EV batteries in your business? If so, How are they stored?

Fleet Management

Is there a fleet manager appointed? How often are driver meetings conducted to discuss Commercial Vehicle Operators Report infractions/convictions/accidents?

Health and Safety

All employees should sign off when their training is complete. Following an increase in slip and fall claims, insurers will examine self-service areas of the yards. Carriers will want to ensure that each person entering the yard signs a waiver. Customers should wear proper footwear and avoid going under vehicles. Environmental factors should be considered. Demonstrate your process for handling combustibles and advise the carrier about oil water separators and holding containment areas.

The overall organization of the yard is a significant portion of the pre-inspection. For instance, designated material areas and space for emergency services access indicates safe management practices. Before any inspection, please speak with your Broker to ensure you are prepared and have proper protocols in place. Feel free to reach out to Cowan to help address your risk management needs.