Some of the top risks businesses face include:
- 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 your local Trusted Choice independent agency at 845-986-1177. Our agents 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.