< Previous20 Business Link www.blmforum.net AGRI-BUSINESS SPOTLIGHT not just its yield for our benefit, keep the land healthier and richer for years to come as well as communicating good ethics to an ever more discerning customer base. From organic farming and conservation agriculture – which utilise natural methods like crop rotation and soil disturbance reduction – to urban farming’s space maximisation, modern techniques help in resource optimisation, reducing environmental impact and enhancing farms’ overall productivity. Providing knowledge and training in sustainable practices, including up-to- date machinery and technology such as precision farming technologies and data analytics software, enables crop monitoring, resource management and data-driven decisions for still greater productivity as these technologies continue to be refined. Agribusiness aligns farming practices with the newest developments by assisting integration, seeing them all the way through to meeting consumer demands. All of which brings us neatly on to matters of distribution to, and feedback from consumers, as market analysis matters at either end of the production line. It’s important for agribusinesses to understand consumer preferences by gathering and analysing data on consumer behaviour, buying patterns and emerging market trends. Collecting data through various sources such as surveys, focus groups, sales data and trade statistics provides data for extracting insights and identifying patterns in the values people prefer to invest their money in. This information helps businesses further ally their production and distribution strategies with consumers to stay competitive in the market, identifying gaps for the development of new agricultural products that meet evolving demands. Agribusiness requires a deep understanding of market dynamics and trends. As such, analysing consumer preferences and forecasting demand while adapting production accordingly are crucial for success. But once all the data gathering is done, it’s time to plan next steps for how to respond to demand, and manage any risks that may be involved with your evolving plans. For © stock.adobe.com/nicemyphotowww.blmforum.net Business Link 21 AGRI-BUSINESS SPOTLIGHT instance, you may engage in processing agricultural commodities, adding value and transforming them into consumer- ready products. On the plus side, refining, canning or freezing can lengthen the shelf life of certain produce or ingredients, and add to their marketability in catering to diverse consumer preferences. But in rethinking which crop varieties would be best to ease this diversification of output, any professional must manage risks associated with factors like weather, commodity price fluctuations and regulatory changes. Two linked areas in which it’s essential to manage risk effectively are food safety and quality control. Agribusinesses are responsible for ensuring both throughout the supply chain, and so any change to processes – or addition of food crops or products – should bear public health and safety in mind at every stage. Working in the food industry on an industrial scale requires rigorous quality control measures, adherence to food safety standards and regulations, and regular inspections and testing to maintain the integrity of agricultural products. Any food production organisation must adapt to evolving consumer preferences, including demands for organic, locally sourced and ethically produced food. Planning for these demands doesn’t just make acquiring materials, making changes and supplying for them simpler through better organisation. Managing your supply chain also becomes easier, enabling resource optimisation, better inventory oversight and more streamlined order fulfilment. By actively participating in the production and distribution aspects of the agricultural industry, agribusinesses contribute to the efficient and effective flow of products from farm to fork, ensuring the availability of quality food for consumers while supporting growth and profitability. Agribusiness and its tools can be applied at any and every stage, from planting and processing to a timely delivery. With their careful and skilled use as and when needed, providing food and drink to a discerning mass market becomes more precise, structured and even exciting with emerging trends at your fingertips. © stock.adobe.com/bnenin © stock.adobe.com/prostooleh22 Business Link www.blmforum.net INSURANCE While every business owner knows some insurance policies are required by law, there are some additional coverage options that could prove useful, particularly if you ever plan on expanding your business operations. A s business owners will know, there are certain insurance policies that are required to operate. Primarily, employers are obligated by law to have employers’ liability insurance, and this requirement remains unchanged in the proposed regulatory reform. This insurance policy will bear the expenses associated with work-related injuries or illnesses, encompassing both employee compensation and pertinent legal fees. Additionally, if a company utilizes motor vehicles for transportation or deliveries, it must obtain business motor insurance. The minimum coverage required is ‘third party only,’ which safeguards against damages and injuries inflicted upon third- party vehicles and drivers. It is also legally mandated to provide coverage for employees who will be operating company vehicles. But what about additional policies? Public and product liability insurance, whilst not mandatory, are standard policies taken out by a growing business. Public liability insurance is to provide financial protection to individuals or businesses if they are held liable for causing injury, property damage, or other losses to third parties. This insurance coverage is designed to cover legal costs, compensation claims, and any associated expenses that may arise from incidents occurring in public spaces or on third- party premises. Public liability insurance Protecting your personal and professional reputation www.blmforum.net Business Link 23 INSURANCE ensures that individuals or businesses are adequately protected against the financial risks and potential legal liabilities that may arise from accidents or incidents involving members of the public. Product liability insurance is to provide financial protection to businesses or manufacturers should their products cause harm or damage to consumers or users. This type of insurance coverage is specifically designed to cover legal costs, compensation claims, and any associated expenses that may arise from product- related incidents or defects. Product liability insurance helps safeguard businesses from potential financial losses and legal liabilities that may result from claims related to product defects, manufacturing errors, design flaws, inadequate warnings or instructions, or other product-related issues. It provides reassurance and financial security to businesses by mitigating the risks associated with potential product-related claims and ensuring they have the means to address any resulting legal or financial obligations. The downside to the above is that they would constitute two separate policies, meaning higher premium payments. Acquiring public liability insurance comes with a premium cost. The exact amount depends on various factors such as the nature of your business, coverage limits, and claims history. For some businesses, especially smaller ones with limited budgets, the cost of insurance may be perceived as a disadvantage. Furthermore, these policies are by their nature restrictive. Public liability insurance policies often have exclusions and limitations. Certain high-risk activities or types of claims may not be covered, or coverage may be limited in specific circumstances. It is crucial to thoroughly understand the policy terms and conditions to ensure that you have adequate coverage for your business needs. Public liability insurance may attract false or frivolous claims, potentially leading to increased premiums or reputational harm. While 24 Á © stock.adobe.com/StockPhotoPro24 Business Link www.blmforum.net INSURANCE insurance providers have mechanisms to investigate and defend against fraudulent claims, the process can still be time-consuming and may impact the business’s operations. Once again, the usefulness of such policies depends on the nature of the business. Public facing businesses, particularly those that deal in advice or specialist services, may benefit from the specialist cover that public or product liability insurance provides. For businesses less prone to defamatory actions, general liability insurance will often suffice. General liability insurance is a broader term that encompasses a wider range of liabilities faced by businesses. It includes public liability coverage, but it also extends to other areas such as product liability, completed operations liability, and advertising liability. General liability insurance provides coverage for a variety of potential risks and claims, including bodily injury, property damage, personal injury, and reputational harm. It is a more comprehensive insurance policy that addresses a broader spectrum of liabilities that businesses may face. As may be expected, the more comprehensive cover of general liability insurance typically comes at a higher cost. For new businesses, reputation is worth everything. When choosing which assets to protect, opting for a more specialised cover at a lower cost may make more sense. However, if your business is in manufacturing or product sales, a more generalised policy to cover defective products is advised by experts. For company directors, it may also be prudent to consider extended coverage which reaches to defamatory claims against the person rather than exclusively against business operations. www.blmforum.net Business Link 25 INSURANCE Directors and Officers Liability Insurance, often abbreviated as D&O insurance, is a type of liability insurance that provides financial protection to directors and officers of companies in the event they are personally sued for alleged wrongful acts committed in their capacity as company leaders. This insurance coverage is designed to protect directors and officers from legal expenses, judgments, settlements, and other costs associated with such lawsuits. The purpose of D&O insurance is to safeguard the personal assets of directors and officers, as well as attract and retain qualified individuals for leadership roles within organizations by offering financial protection against potential lawsuits. It helps mitigate the financial risks associated with legal actions, promotes confident decision-making, and provides peace of mind to directors and officers in fulfilling their duties. It’s important to note that D&O insurance, by necessity, has specific policy terms, coverage limits, and exclusions. Finally, for businesses that trade in consulting or advice, Professional Indemnity (PI) insurance may be useful. PI insurance provides protection to professional businesses against claims made by their clients due to any harm caused by professional negligence. Obtaining this type of coverage is considered good practice for consultants, especially for national or global clients. Your contractual agreement may necessitate the acquisition of PI insurance, with the minimum amount of coverage required also being specified. One should note that those who operate as sole proprietors will likely be personally responsible for financial damages without PI insurance. © stock.adobe.com/thodonal26 Business Link www.blmforum.net KONSILEO INSURANCE Q&A Where did the name Konsileo derive? "Konsileo" is derived from the Esperanto word "konsili" which means "to advise" or "to counsel". The company chose this name to reflect its focus on providing tailored advice and guidance to its clients in the insurance industry. Konsileo aims to be a trusted advisor to its clients, helping them to navigate the complex world of insurance and make informed decisions about their coverage. Who are Konsileo? Konsileo is an independent chartered commercial insurance broker that offers a unique value proposition to its clients. Providing bespoke insurance solutions tailored to the specific needs of our clients. Konsileo achieves this by using a digital platform that combines technology with a human touch. Clients are assigned a dedicated Client Director who works with them to understand their business and its unique risks. The Client Director has access to over 100 insurance markets from household names to specialist niche insurance and are able to provide the right policy to match our clients’ specific requirements. Another key aspect of Konsileo’ s USP is its focus on transparency and accountability. Konsileo is committed to providing its clients with clear and concise information about their insurance policies, including pricing and coverage. Konsileo also aims to build long-term relationships with its clients, which is reflected in its customer-centric approach. Overall, Konsileo offers bespoke insurance solutions through a combination of advice and technology, with a focus on transparency and accountability, which sets it apart from traditional insurance brokers. How can insurance from Konsileo help your organisation? Insurance from Konsileo can help your organisation in several ways. Here are a few examples: Protection against financial loss: Insurance is designed to protect organisations from financial loss due to unexpected events such as accidents, natural disasters, and legal action. With the right insurance coverage in place, your organisation can be better prepared to manage and mitigate these risks. Customised insurance solutions: Konsileo works with its clients to understand their unique risks and develop customised insurance solutions that provide the right level of protection. This can help ensure that your organisation is not over-insured or under-insured, and that you have the cover you need to protect your business properly. Compliance with legal requirements: Depending on your industry and location, you may be required by law to carry certain types of insurance coverage. Konsileo can help ensure that your organisation is in compliance with these requirements, and that you have the right coverage to meet your legal obligations. Peace of mind: Knowing that your organisation is properly insured can provide peace of mind and help you focus on running your business. With Konsileo’ s support, you can have confidence that you have the coverage you need to protect your organisation and its assets. Overall, insurance from Konsileo can provide valuable protection and support to your organisation, helping you to manage risk, comply with legal requirements, and focus on your core business operations. Why is Konsileo Lincolnshire different? Konsileo Lincolnshire is a local branch of Konsileo that focuses on serving clients in the Lincolnshire area and beyond. There are several factors that make Konsileo different from other insurance brokers in the region: Local expertise: Konsileo Lincolnshire is staffed by insurance professionals who are familiar with the unique risks and challenges faced by businesses in the Lincolnshire area. This local expertise allows them to provide tailored advice and guidance to clients that is specific to their region. Technology-driven approach: While Konsileo Lincolnshire is focused on serving clients in a specific region, it still leverages Konsileo’ s proprietary technology platform to enable collaboration across the brokerage. This technology-driven approach allows them to efficiently and effectively match clients with the right specialist Customer service: Konsileo is committed to providing exceptional customer service to its clients. This includes being responsive to client needs and concerns, and working closely with clients to develop customized insurance solutions that meet their specific requirements. Transparency: Like the wider Konsileo organisation, Konsileo is committed to transparency and accountability in its operations. This includes providing clear and concise information to clients about their insurance policies, including pricing and coverage. Overall, Konsileo Lincolnshire is different from other insurance brokers in the region because of its focus on local expertise, technology, customer service, and transparency. By leveraging these factors, Konsileo provide a unique value proposition to its clients in the Lincolnshire area. Q&A Konsileo Insurancewww.blmforum.net Business Link 27 KONSILEO INSURANCE Q&A RICK WALES - Client Director With nearly 40 years of experience working in diverse broking roles, I am perfectly positioned to support and service the local business community, offering advice for a wide range of industries. My specialities lie within Construction, Haulage, and Property Owners, and my previous experience has given me exceptional knowledge in business development and strategic planning. 07779 337 168 | rick.wales@konsileo.com Meet your Konsileo Team JACK GENNEY - Client Director With 12 years experience, I have a strong appetite to build long-standing relationships and ensure my clients are adequately protected in a cost-effective manner. With the ability to both identify and mitigate the risks businesses face, I provide my clients with the ‘peace of mind’ that in the event of a loss, I’m right by their side. Whilst possessing vast knowledge of all sectors, I specialise in Large Construction Risks, Engineering, Motor Trade, Property & Transport. 07943 172 207 | jack.genney@konsileo.com KRISTINA FROST - Client Director Having supported local businesses over the last 10+ years, delivering bespoke insurance programmes and guiding clients through the minefield that is the insurance market. I pride myself on the level of service and commitment I provide, along with an extensive range of knowledge across all insurance products and sectors. I specialise in Manufacturing, Wholesale/Retail, Hospitality & Leisure risks. 07859 910 694 | kristina.frost@konsileo.com specialisms include, Corporate, Financial Lines, Professional & Large Haulage risks. 07361 233 827 | alan.horton@konsileo.com MICHELLE MARKHAM - Client Servicing Director I have specialised in commercial insurance for the past 5 years, gaining knowledge and experience quickly. I particularly enjoy problem-solving industry-specific risks with my specialisms lying in Fleet, Property Owners, Shops, and Offices. I am a people person by nature and so I enjoy getting to know clients and working closely with colleagues; constantly improving and tailoring the insurance process per client. 01472 810 059 | michelle.markham@konsileo.com NICK TAYLOR WARD - Client Director My 30 years of experience have allowed me to fine-tune the process of designing unique insurance solutions for every client. I am also able to provide high quality risk mitigation advice so my clients are able to have that added level of security. My ACII qualification gave me strong foundations in all things insurance, which means that I can appreciate the complexity and enjoy the challenge of working with an eclectic mix of business environments. 07976 090 701 | nick.taylorward@konsileo.com business, should you suffer a financial loss or experience an accident within the workplace. 07772 605 078 | jackilyn.jack@konsileo.com Konsileo Insurance, Suite GO4 McCue House, 70 Wilton Road, Wilton Road Industrial Estate, Humberston, DN36 4AW 28 Business Link www.blmforum.net PORTS AND LOGISTICS From temperature-controlled transportation to efficient inventory management, logistics operators can optimise their strategies to deliver fresh, high quality products whilst meeting increasing demand. www.blmforum.net Business Link 29 PORTS AND LOGISTICS © stock.adobe.com/Chlorophylle A cross the globalised, interconnected consumer goods industry we benefit from today, logistics is the support system for the efficient movement of products to a large and far-flung market. Logistical importance is particularly high in the food sector, where freshness, quality and safety are crucial to keeping customers as well as looking after their health. The intricate balance between speedy transportation, effective inventory management and careful distribution often involves keeping many plates spinning at once. Working out how to cope with such high demand effectively can feel overwhelming, but here we’ll outline some of the weightiest concerns and how you as a business operative can provide the best for every customer. Perishable items, such as fruits, vegetables, dairy and meat, are a point of high tension because of their limited shelf lives. When providing these kinds of products to the public, you’re right to feel a certain amount of worry in preparing for them to be transported swiftly with as few delays as possible. But this needn’t become stressful, as there are many solutions to maintaining food safety and preventing spoilage in transit. Temperature-controlled transportation is essential in food logistics, and cold chain management is one of the most reliable means of preserving food even during delays or multiple drop-offs. But for this method to be effective, specific temperature-controlled environments must be maintained throughout the entire supply chain, from production and transportation to warehousing and distribution. Arranging for cold storage facilities in your factories before products are loaded onto refrigerated trucks is the best way to keep foods at a stable temperature, as it’s this factor which is the foremost concern for products of animal origin in particular. Specialised monitoring systems can then be employed in every containment area, to ensure products always remain within the required temperature range. 30 ÁNext >