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Insurance Bureau of Canada/nl/Business/Risk Management/Policies and Procedures/Guidelines and Implementation

Guidelines and Implementation

​​To be effective, organizational risk management policies must be written, strictly followed and enforced, and the records must be retained. 

​What to Consider When Creating a Risk Management Policy​​​

  • Find a template that fits your organization.
  • Include the policy inception date and any revision dates so that there is no mistake as to which version is current.
  • Set out in clear and simple terms what your policy is for, how it is to be carried out and by whom.
  • Ensure that the policy is compliant with federal, provincial and municipal regulations.
  • Keep it simple – a maximum of one to two pages is usually sufficient.

When Establishing a Procedure​​

  • Create a document with step-by-step instructions on how to complete important tasks.

  • Include supervisor contact information in case an employee needs to obtain authorization to go beyond the stated procedure.          

Implementing Policies and Procedures​

  1. Put all policies and procedures in writing.
  2. Consider obtaining feedback from employees, customers and other stakeholders about what should be in the policy or procedure.
  3. Develop forms and reports to supplement policies and procedures.
    1. For example, create an inspection and maintenance form that must be completed as part of the inspection and maintenance policy.
    2. Keep all forms and reports on file.
    3. Obtain legal advice to determine the length of time for which forms should be kept.
  4. Clearly communicate policies and procedures to employees and other stakeholders to create buy-in. Acknowledge feedback.
    1. Hold an orientation meeting.
    2. Distribute a copy of all policies and procedures to employees – consider creating a handbook. As part of orientation, ask employees to sign a copy of all policies and procedures to ensure they have read and understood the content.
    3. Post information in common areas such as a lunchroom.
    4. Train and mentor employees.
  5. Make sure policies and procedures are followed.
    1. Perform and document audits.
    2. Assign a person who is responsible for tracking progress.
  6. Change and update policies and procedures as necessary.

​*Source: Compiled with Canadian Risk Intervention Inc.