Emerging Risks Facing Many Small and Large Businesses

You buy commercial insurance to protect your business from the unforeseen events that might cause a claim, damage, or loss. Commercial insurance provides the financial resources necessary to help your business recover from a covered loss. As your business grows, so does your risk. As societal norms change, your business risks also change. A commercial insurance review can help you better understand your new risks and how best to manage them.

Common Emerging Risks

• The connected workplace is allowing employees to work from remote locations. However, this can create new liabilities for businesses. Remote workplaces create increased risk of cyber breaches, undocumented workers’ compensation claims, and other HR issues.
• The shortage of skilled workers can increase your business risk. Set up a thorough training program to ensure all new employees have an understanding of their job duties and functions, as well as safety protocol.
• Business interruption losses can close your business down. It is important to have the right kind of business insurance to cover a shutdown. Coverage can include payroll, extra expenses, and lost revenue.
• Loss of brand reputation can kill your business overnight with the use of social media. Make sure you respond quickly to all client concerns and have a social media policy for your business.

Since 1905, Turner, Wood & Smith has been north Georgia’s most trusted independent insurance agency. Our dedication to our employees and our community has created an environment ready to foster another 100 years of success. When you’re ready to talk about property insurance, professionals at TWS are here to guide you through and keep you covered.