From the course: Protecting Profitability by Reducing Financial Risk
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What insurances to buy
From the course: Protecting Profitability by Reducing Financial Risk
What insurances to buy
- Business owners can be overcome with proposals for insurances that come in all different shapes, sizes, and premiums to cover what seems to be every single possibility of calamity. It might fee like they are insurance poor. The most frequent question I get is: What are the most important insurances to purchase for my business? It's a simple question, yet more complicated to answer. So much of it depends on the industry and the exposures identified and analyzed. To make it a little clearer for this video, we will identify the protections most needed by all businesses. To protect infrastructure and property, there is Commercial Property Insurance. This policy is often packaged with commercial general liability which protects the liability of the organization for negligence and damage for bodily injury, and property damage to other parties. These are often required for others, specifically banks, landlords and supply chain partners. For autos owned and operated by the business, there…
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