Predictions For Small Businesses in 2017
- March 7, 2017
- Category: Article
2017 is set to be a very good year for small businesses. With the new administration, you can count on many business-friendly policies and administrative rules that will help small businesses. In addition, many communities are promoting local businesses. There will be a number of large retailers closing their doors in 2017, and this might be a good thing for local businesses. With these changes, your business insurance program needs to keep up with your growing operations.
One of the biggest risks faced by businesses is the unintentional violation of laws and regulations. If you violate a law, or create a legal issue with another person or business, your business insurance may or may not respond. We recommend that you allow us to complete a review of your business insurance to make sure that you have the appropriate coverage.
Every business is at risk for a cyber breach. In fact, the White House recently experienced a cyber breach. Cyber breaches are now a fact of life, and every state now has mandatory requirements for data breach notification. Statistics show that 39% of all cyber incidents affect businesses with fewer than 100 employees. If you store data, including private information on computers, use e-mail, generate revenue online, or use your computer to control production, manufacturing, or inventory, your company is at risk!
Today, almost any business can find itself facing a liability lawsuit. Yet, 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 owners. One simple mistake could cause financial devastation, as well as end your professional career. Having the right commercial insurance policy is one of the best decisions your business can make, call us today.