Just another thing for founders to think about
I get it, I really do!
You have a business and along with lots of other things you know you need in place, you go out and buy the insurance you think you need.
You get cover for the physical things you can see and touch, such as buildings, stock, business equipment, computers and machinery, and because you can see what’s on offer, often on the internet, you realise you had better have cover for business interruption and liabilities in case someone makes a claim against you.
Oh! and maybe some legal expenses for other actions you might need to take or defend, and that is about it.
Without independent advice you probably wont think much further, or even consider such things as:
- Financial Guarantees
- Marine Cargo and Goods in Transit
- Cyber Liability
- Directors & Officers cover
- Corporate Liability
- Contract Dispute and Debt Recovery
- Employment Practice Risks
- Pension Trustee Liability
And that is only the start!
Depending on your industry you might need contractors all risks cover, engineering inspection and damage and have you ever heard of JCT 21.2.1 or Sudden and Unforeseen Damage and Fragmentation cover?
This is why its essential to get professional advice and guidance. If that is dovetailed with Business Continuity Planning, we can also look at all the events which could interrupt the income stream of your business, that you can’t insure, to provide an holistic, all-encompassing, risk management structure to #preserveprofitability
When you plan for all the events that could derail your business, you have plans to activate and seamless cover that leaves no gaps. That’s a nice place to be, peace of mind guaranteed, that will make sure you can #justkeepgoing
For further information and guidance just visit our website https://www.severnbay.com just ask for help and have a free no obligation chat.
Why wouldn’t you?
Leave a ReplyWant to join the discussion?
Feel free to contribute!