According to the JPMorgan Chase Institute, half of small businesses in America only have enough cash buffer to stay in business for 27 days without income. A quarter of small businesses hold fewer than 13 cash buffer days in reserve. So even for the best-run business, the reality is that climate events, criminal activity and workplace accidents can close down a business permanently. So what can be done to protect your business and allow it to grow and prosper?
Extensive coverage in one easy package. Our Business Owners Package protects your small business from a multitude of risks by combining insurance types into one convenient policy. It includes: property insurance, liability insurance, loss of income, injury, business operation, data breach, crime coverage and more.
A Professional Liability policy provides coverage for what is known in medical fields as “malpractice” and in other fields as “errors and omissions.” If someone sues you for failing in some way to deliver professional services, this policy will give you coverage for the settlement as well as legal fees and defense. It covers claims of negligence, misrepresentation, violation of good faith and inaccurate advice.
Both the number of lawsuits filed against companies and the size of the settlements continue to increase with few signs that this trend will reverse. Legal settlements, jury awards and out of court settlements routinely reach figures in excess of hundreds of thousands of dollars. Add to this the cost of legal fees and it's clear that it has never been more important to protect your business against legal action.
The information contained in this website is provided for informational purposes only, and should not be construed as advice on any matter. The material in this website may not reflect the most current developments within the insurance industry. We disclaim all liability in respect of actions taken or not taken based on any or all of the contents of this website to the fullest extent permitted by law. Do not act or refrain from acting upon this information without seeking professional advice from a licensed insurance agent.