Business Insurance Covers Your Risks

Top Risks Businesses Face

• Property damage from fire, storms and accidents
• Liability in many forms, including product liability, accident/injury liability, libel, malpractice and professional liability or “errors and omissions” risks
• Fraud, embezzlement, extortion
• Cyber-crime and data loss

Every company, large and small, has unique risks.  Some have workers who operate heavy machinery or drive vehicles while on the job, while others serve food and alcohol or handle toxic substances.  Doctors and hospital staff handle patients, body fluids, sharp needles and equipment.  Some employees handle sensitive documents, data, or money, potentially opening the door to business fraud.  For this reason, every company needs commercial insurance coverage specifically matched to the risks of the enterprise.

Determining your risks and making sure you have the right commercial insurance in place requires an evaluation of a wide range of factors, including:

• Your business needs
• How you serve your customers
• How many employees you have on staff
• The materials or substances those employees handle
• Whether your employees drive in the course of their work
• The safety of your building, equipment, and processes
• The security of your data and intellectual property
• Risks facing your corporate officers

To assess your business insurance needs, start by contacting us.  We can fully address every aspect of your business coverage and help to ensure that you do not have gaps that could leave your business exposed to financial risk.

Types of Commercial Insurance Policies

Every commercial operation needs business insurance.  The specific blend of coverage types you need for your business depends on many factors, such as whether your employees handle money, dangerous substances, sensitive data or expensive merchandise.

We will be able to recommend a package combining the coverage types you need, tailored to your risk management concerns.

For example, you may need some combination of the following types of commercial coverage:

• General liability, contractor’s liability, or professional liability (errors and omissions)
• Directors’ and officers’ liability
• Malpractice insurance
• Commercial property insurance
• Commercial vehicle or commercial truck insurance
• Contractors and builder’s risk coverage
• Inland marine coverage
• Business interruption insurance
• Landlord insurance
• Commercial tenants insurance
• Crime coverage or fidelity insurance
• Cyber-crime insurance
• Workers compensation
• Construction bonds

While you certainly do not need all of these coverage types to safely run your business, it’s nice to know that you have a variety of ways to manage the specific risks your company faces.

You may also want to offer or provide certain types of coverage to your employees, such as:

• Employee health insurance
• Short-term or long-term disability insurance
• Group life insurance

The coverage you choose for your business and employees should be designed to fully protect your company’s assets.  A quality benefits package will show that you are an excellent employer to work for, and may even help you to attract the best talent.