Saving Tips for Business Insurance?

curious boss asks: "I have a question for the IT manager types out there: does anyone know how much a business can save on their annual insurance premiums by having their information security policies and procedures audited once a year? How much would an audit cost? I know those are vague questions, but if there's a rule of thumb (eg, cost per server, or cost per employee), or even pointers to getting more detailed information, that would be great."

Re:I don't know, but...

[Miaowara_Tomokato]

From my experience, the simplest route for this guy is to speak with an adjuster at the company providing insurance- not a salesperson or an actuary. No doubt an actuary could give him a very detailed description of it how it all ends up, but he just wants to know what saves a couple bucks. The adjuster will have the ability to run the numbers a variety of ways to see what trims off a few dollars.

Simple answer: anything you can do to make your business safer (in any way) will save money.

Some examples:Choose a location close to a fire station, limit your exterior signage, don't sell something that a kid might choke on, try to work from a newer building, use an alarm system, keep cracks under control on the sidewalk outside your location. Odds are good that if an action reduces the chances of a fire, theft, or lawsuit, then it will be reflected in your insurance costs.