New Year’s Resolutions For Your Business

Business Insurance Trends For 2019
As we move into 2019, we wanted to provide you with our “business insurance resolution checklist”.  We suggest that you go over this list to verify that you have the best possible coverage for your business. Building a solid company in today's competitive and fast-moving world takes time, commitment, and foresight. Having solid business insurance can protect your assets, employees, and future.

We can design a commercial insurance program specifically for your business. There are some kinds of coverage that your business may not have considered. We offer you our checklist. Give us a call today.

Key Man Life - Covers the death of key owners, and revenue producers. In the event of the key person’s death, the death benefit payout goes to the company and not the key employee’s spouse or children. Key man life insurance policies act to inject liquid funds into the business to protect against a variety of financial losses. A company will have to scout out, hire, train and retain a new replacement employee. This is costly and the death benefit covers the expense of these burdens.

Professional Liability- Covers claims that come from giving advice. Today, almost any business can find itself facing a liability lawsuit.  Many businesses do not even realize they have an exposure to professional loss.  A Management Liability lawsuit can put business and personal assets at risk, including the company’s assets, and even the personal possessions of the owners.  One simple mistake could cause financial devastation, as well as end your professional career.

Workers' Compensation Insurance – This coverage is usually required by law for small businesses with employees. This insurance provides benefits for employees who are injured or die from job-related causes. 

Employment Practices Liability- Provides your business with coverage for harassment, wrongful termination and other claims brought by employees.

Business Income- This coverage can provide extra funds should your business suffer a covered loss. It can include coverage for extra expenses to set up a temporary location as well.

Cyber Liability- If your business handles customer data, such as credit card or bank account numbers; data breaches pose a serious threat to your financial stability. Cyber Liability Insurance protects against the expenses associated with a data breach, which can run into the hundreds of thousands of dollars.
 
Unbelievably many small businesses do not have the right commercial insurance.  Having the right business insurance does not have to cost you any more money.  The key is having an agent who understands your risks and is willing to help you design a business insurance plan that meets your needs.
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Strive Insurance Group, Inc. is a full-service independent insurance agency that has been serving the insurance needs of the Dallas area since 1984. In addition to having a presence in the Dallas and North Texas area, we have also expanded to Austin and Central Texas with agent representation and the same professional service.