Commercial Insurance

You cannot have a legitimate conversation about commercial insurance without mentioning risk management. Besides, what is commercial insurance but one of many different methods of financing risk. Insurance is by far the most popular method! However, Insurance is not always the most efficient nor most effective method of financing risk. Commercial insurance, like any insurance, should always be approached strategically! Your risk management program and insurance should support your overall business strategy. 

Please don’t get me wrong! We love commercial insurance! In fact, if there is one thing that we specialize in it would be commercial insurance. Commercial insurance not only protects the bottom line of investors and business owners it serves the best interest of society. Can you imagine a business world without insurance? Lenders would be reluctant to finance large purchases for fear of loss to collateral! Entrepreneurs would second guess their investment decisions! Consumers would have limited recourse against shady business practices, unscrupulous business owners, and defective products! Business owners would lack protection against frivolous litigation. Without business insurance commerce would grind to screeching halt.

An effective Insurance and Risk Management program should add value to your organization. It should help you identify vulnerabilities in your business strategy, reduce and mitigate your total cost of risk, integrate safety and loss control, and improve your organization’s ability to plan, budget and take advantage of risk. Ultimately, your commercial insurance and risk management program should protect your net worth!