b'Organizationswillneedtoreviewtheirriskmanagementpro- Every organization needs risk management, but construction grams to secure competitive rates. Those that can demonstrate they have policies and procedures in place to protect against chemical spillscompanies need it more than most. With so many things that and other claims will be more successful in securing appropriate pro-tections. Brokers and advisors can help by identifying potential issuescan go wrong, its critical to identify exposures and plan the and determining appropriate levels of coverage. right response ahead of time.3. Technology SolutionsAlthough the construction industry has been slow to embraceProtective Roofing change, construction firms are investing in data analytics, artificial intelligence and telematics to increase safety and improve efficiency. Organizations with increased risk are relying on technology solutionsSafety Productsto maintain safety information and monitor exposures.Yet these solutions also come with greater risk for cyberattacks. Cyber insurance is expected to rise less than 10 per cent in 2024less than in previous yearsbut a rise in claims could push rates up evenhigher.Firms that take proactive steps to reduce cyber risksuch as multi- BYfactor authentication, comprehensive back-up strategies and cyberse-curity training and protocolswill be better able to secure coverage. An expert broker can provide insight into assessing emerging risks and the best strategies for mitigating exposures.Plan for SuccessIn 2024, consider these tips to strengthen your entire organization: Create a comprehensive plan. Every organization needs riskmanagement, but construction companies need it more than most. With so many things that can go wrong, its critical to iden-tify exposures and plan the right response ahead of time. Introduce personalized benefits. With so many employers andThe PR 100 Guardrail System a shortage of labour, standing out is critical. Organizations that allow employees to personalize their own benefits not only in- is an efficient and practical perimeter guardrail that allows youcrease engagement, but also encourage employee well-being andto work right to the edge of the roof.improve recruitment and retention.Meets and exceeds OSHA & WCB requirementsFocusonworkplacesafety.Injuriescanmultiplywiththe Accommodates: parapets and cant stripsEasy to installnumber of new hires. Be sure to review safety policies regularly Provides unobstructed access to roof edgeand clarify as needed. A risk professional can help. Rely on your broker. Your broker is on your sidebut onlyif you allow it. Review exposures and coverage needs at least 90 days ahead of policy renewal to allow time to assess options. In addition, make sure to share details about upcoming business changes and opportunities.About the AuthorSimon J. Fenn, CIP, is Senior Vice President at global Top 5 insur-ance brokerage HUB International. He has more than 44 years of riskThe PR 600 Mobile Fall Protection Systemmanagement and insurance experience in the worlds top insurance bro- can be moved along the roof by pulling the cart to the desired working location, kerages, companies and reinsurance companies. providing a safe working area. The PR 600 meets O.S.H.A. compliance 1926.502D.References Roofing & Sheet Metal Super Service Centres1. www.buildforce.ca/en/press-releases/short-term-contractions- may-ease-some-labour-market-challenges-canadas-construction EDMONTON, AB CALGARY, AB WINNIPEG, MB WESTON, ON2.www.thesafetymag.com/ca/topics/leadership-and-culture/worker- (780) 432-2786 (403) 255-8236 (204) 338-7613 (Weston Road)deaths-in-2022-10-times-higher-than-what-wsib-reported/444359 BARRIE, ON HAMILTON, ON TORONTO, ON (416) 745-41113. www.hubinternational.com/en-CA/landing-pages/quality- (705) 792-6683 (905) 560-2858 (416) 534-8421employee-experience WESTON, ON4 .scholar.afit.edu/cgi/viewcontent. OAKVILLE, ON PICKERING, ON LONDON, ON (Signet Drive) cgi?article=1740&context=facpub (905) 825-0034 (905) 426-4443 (519) 668-3626 (416) 744-20505. www150.statcan.gc.ca/n1/daily-quotidien/231121/dq231121a- www.sparmarathon.ca eng.htmORN THE ONLY SOURCE FOR PROFESSIONAL ICI ROOFING CONTRACTORS IN ONTARIO ONTARIO ROOFING NEWSISSUE 1 202413'