In this video, Dan helps the reader understand the hidden cost of perils that cause tangible physical damage to assets.
- Over the course of my career I've heard…the following phrase from business owners countless times,…that's exactly why I buy insurance.…That phrase is usually uttered when the discussion…is about the risk of physical damage to property.…Buildings, contents, equipment, inventory, vehicles,…and computers to name a few.…While conceptually this statement is valid,…the problem arises when complacency sets in.…
Complacency becomes a risk when the crutch of insurance…distracts the business owner from taking steps…to avoid and minimize physical losses.…In this video, we are going to identify…the most common perils to physical damage.…We will then illustrate the consequences to profitability…that insurance simply can't completely protect.…The most notable physical damages…are the ones most people think about,…fire, wind damage from hurricanes, storms, and tornadoes,…earthquakes, and normal wear and tear.…
Physical damage perils that need to also be addressed…include anything that damages your technology,…things like viruses, hackers, worms, and cyber criminals.…
- Recall the detrimental effects a BOT attack can have on a company’s customer database.
- Recognize which individuals companies frequently fail to include in mid-crisis actions.
- Determine how Google Alerts can help a company protect itself against threats.
- Identify a threat that is least likely to cause a company financial harm.
- Define “culture shock” in the context of business operations.
- Name a type of leader that often uses their position for personal prestige rather than performing their roles.
- Predict what will happen with business insurance as technology evolves.