Getting insurance that is specific and sufficient to the needs of your small or medium-sized business will safeguard your assets and allow your business to grow, even when the unthinkable happens.
Running a business successfully in a fast-paced, digitally enabled world means having relevant and reliable business insurance in place.
Do you have cover that meets your needs?
“With a tailor-made business insurance plan that best fits the industry you operate in, you can better manage daily risks and newly emerging risks,” says Discovery Business Insurance COO, Lana Ross.
“No matter the sector your business operates in — be it the restaurant, health care, legal and accounting, trade or residential sectional title space — choosing an insurance solution designed to meet your needs makes all the difference.”
To best identify the kinds of risks and cover applicable to your business, consult an insurance broker or financial adviser.
Advisers are there to help put your risk needs and business goals into perspective, aligning these with available comprehensive cover options.
How important is it to have a risk assessment done by a financial adviser?
The accuracy of your business risk profile has a direct effect on its profitability. With the right insurance cover, you will receive accurate information and expert recommendations. These can help improve your risk profile and avoid costly interruptions to your business.
Does your business insurance plan cover the evolving nature of risks?
As your business evolves, so do the risks it potentially faces. Comprehensive business insurance that manages things such as cyber risks, along with reputational and legal risks, is not just a nice-to-have — it’s a necessity.
Insurance cover that protects your business against such risks needs to be agile and flexible — cover which functions this way affords you peace of mind. No matter what the latest scam is, your cover is equipped to protect you.
Five essential areas of cover every business owner should have
A comprehensive business insurance plan includes cover for:
- Business assets (tangible and intangible);
- Theft, including theft by employees;
- Loss of profits or revenues due to interruption of, or interference with, the business;
- Legal liabilities to compensate third parties for losses suffered owing to actions or negligence of business representatives, including those arising from social media interactions; and
- Losses to the business and liability to third parties after a cyber attack on business computers.
“At Discovery Business Insurance, we offer comprehensive cover so that you are adequately protected. Through a holistic assessment of your business, we help you understand all risks so you can improve your risk management and business.”
To find out more about the holistic and market-leading business insurance cover that Discovery offers, contact your broker today or click here to get a quote.
This article was paid for by Discovery Insure.
