There’s no denying that business success depends on teamwork, but disaster can wipe out your efforts and turn profits to dust. To avoid such incidents, you need to insure your business, be it a small business or a large corporation.
There are insurance companies that have policies
that combine all the essential property and liability risks in one package. You can also choose separate coverage. Such policies are referred to as Business Owner Policies (BOP). Larger companies can purchase commercial plan policies.
BOP includes property insurance for the company’s buildings and equipment. If there is a loss of income and business interruptions due to an accident such as fire, these can be covered by business interruption insurance.
There are liabilities that involve the company’s legal responsibility for damage it may cause to others. It is the result of your company’s failure to conduct business operations. It … Read the rest