Protective Safeguards sounds like an endorsement you would want included in an insurance policy, right? Beware! This is actually an endorsement that can exclude coverage in certain scenarios. It’s important to know if this is attached to a businessowners’ insurance policy. (more…)
If you were a business owner somewhere between Minnesota and Maine this winter, there is a likelihood that your power was interrupted due to the massive ice storm that swept the Midwest and East Coast. If you were able to open, did large icicles hang perilously from your building putting your customers in harm’s way? Don’t forget about that slippery sidewalk and parking lot! What if an employee slips and falls while taking out the trash? What if a customer walks outside and gets hit in the head with an ice chunk or falls down and fractures their hip? Will they (or their lawyer) say that you didn’t properly clear the sidewalk, which caused them to fall? Most importantly, how will that affect your reputation as a business owner? Ice storms can wreak havoc this time of year! (more…)
Power outages, theft or property damage can strike businesses without warning, often in ways you can’t expect. While these situations are usually temporary, they can result in long-term consequences. Besides the initial loss, a business may be forced to close for days, weeks or months, cutting off revenue completely. The reputation of a business can also take a hit and lead customers to permanently switch to a competitor.