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STANDARD POLICY FORM FOR MOTOR TRADE INTERNAL RISKS Whereas the insured by a proposal and declaration dated as stated in the Schedule which shall be the basis of this contract and is deemed to be

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How to fill out motor trade internal risks

01

Identify all internal risks that could potentially impact your motor trade business.

02

Evaluate the likelihood and severity of each identified risk.

03

Determine appropriate control measures to mitigate or manage each risk.

04

Develop an internal risk management plan outlining the identified risks and corresponding control measures.

05

Implement the risk management plan and regularly review and update it as needed.

Who needs motor trade internal risks?

01

Individuals or businesses involved in the buying, selling, or servicing of vehicles as part of their daily operations.

02

Insurance companies providing coverage for motor trade businesses.

03

Regulatory bodies overseeing the motor trade industry.

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What is motor trade internal risks?

Motor trade internal risks refer to the risks associated with the operations and activities within the motor trade industry, such as theft, fraud, accidents, and equipment malfunction.

Who is required to file motor trade internal risks?

Motor trade businesses are required to file motor trade internal risks.

How to fill out motor trade internal risks?

Motor trade internal risks can be filled out by documenting all potential risks within the business, assessing their likelihood and impact, and implementing mitigation measures.

What is the purpose of motor trade internal risks?

The purpose of motor trade internal risks is to identify and manage potential risks that could negatively impact the business operations and profitability.

What information must be reported on motor trade internal risks?

Information such as types of risks, risk assessment findings, mitigation measures, and incidents related to internal risks must be reported on motor trade internal risks.

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