Smart small businesses and startups know that right-sized business insurance is as critical to their business as keeping the lights on. And because you need to take on risk to grow, proper risk management coverage protects you from threats that leave your business vulnerable to failure. So, what does proper coverage look like?
Alas, there is no one-size-fits-all answer. While insurance is often viewed as a commodity, a good insurance partner learns about the unique needs, legal requirements and cost constraints of your business and custom designs a package for coverage — not too much, not too little, but just right. And, a quality insurance partner stays with you, adjusting your coverage as your organization evolves and grows, leaving you with less worries and more time to focus on opportunity and development.
Cyber Attacks rank third in the short list of business disrupters. For small to medium businesses, a cyber breach is often fatal. (Business Continuity Institute, 2016)
of businesses fail within two years because of inadequate post-disaster revenue or cash flow. Adequate insurance would help them survive. (www.insurancejournal.com, 2016)
Uptime. Keep your business running even when obstacles threaten to temporarily shut you down.
RIGHT-SIZED BUSINESS INSURANCE
WILL HELP YOU THRIVE
Protects you, your employees and your business from legal claims involving bodily injury or property damage from accidents on your premises or from your products, operations or advertising.Read More
Covers losses to your property caused by fires or explosions, theft, damage from vehicles or airplanes, or acts of vandalism.Read More
Protects your company in the event of a data breach or other cyber threat, including exposures created by your employees while performing work on computers.Read More
Pays for an injured employee’s medical treatment and can assist in replacing lost wages; protects your employees, business, and assets.Read More
Covers financial responsibility if you or an employee is at fault in a vehicle accident and people are injured or their property is damaged.Read More
Replaces lost net income, covers for continuing expenses, and pays for relocation expenses and advertising fees if your business is forced to close temporarily.Read More
Protects your company against claims that a professional service you provided caused your client to suffer financial harm due to mistakes on your part or because you failed to perform some service.Read More
Protects you when accidents happen and your existing liability insurance cannot cover all the expenses; picks up where your business auto liability, general liability or other liability coverage stops.Read More
Protects your business facility and contents from floodwater damage costs, including destruction or harm to buildings, physical contents and assets.Read More
Take a moment to Answer a few questions to find out
what a business like yours is likely to need.
A commercial general liability policy provides coverage for the business, the business owner, and the employees for claims involving bodily injury or property damage, up to the limits of the policy. Bodily injury does not just mean physical harm; it can also mean damage to image, which would be considered advertising injury. So, in this case, commercial general liability policy would provide defense costs for Always Fine Deli because the claim would be covered as a result of advertising injury to the competing deli.
In today's economy, technology's existence for business operations has become extremely complex and sophisticated. Just as businesses explore insurance for general liability risks, they should explore the same for cyber risk. Business proprietors should discuss with their agent in detail about all operations using technology. In this case, a "bare bones" cyber policy may have not provided coverage. The insured needed to share with the agent that the business uses technology for the transfer of large funds.
Property insurance is critical to protecting a company's investment in its property. However, more important than simply holding a policy is understanding what is covered by it. Property policies will generally have sub limits for different causes of loss. In this scenario, damage from a power surge following a storm was covered under the insured's property policy, but it was not nearly enough coverage to replace all of the physical therapy equipment. When reviewing a policy with an agent, business owners should understand to what degree sub limits provide coverage for different possible situations.
The McNish Group provides a suite of risk management and financial solutions to individuals and businesses of all sizes.
We are known for our exceptional customer service and our know-how in insurance and business problem solving. Our staff genuinely cares; we are proactive in business planning and responsive when a crisis or problem arises.
For both individuals and businesses, we assess exposure to risk, provide solutions to protect against that risk, and support customers’ evolving needs over time. Our customers trust us to provide adequate, simple-to-understand coverage — to reduce their worries so they can focus on business and personal growth.
We help individuals adequately insure all aspects of life, both tangible and intangible.
We help businesses manage their risks by sufficiently insuring all facets of their business. We bring strong financial expertise to the table, making sure each business has the tools and protection necessary to grow and develop.