Insurances

Understand what business insurance you need for your stage of growth

As business advisors we can assist our clients in identifying and explaining the right type of business insurance for their stage of growth. Once you understand the basics, we can refer you to insurance providers within our network of trusted professionals.

Some of the insurances you might need to consider for your business include:

• Property Damage Insurance covers a building, its furnishings and objects against things like theft, fire, and some natural disasters or in other words, it covers the tools and materials that you need to do business.
• Liability insurance – If something happens in your business that harms other people or their property, you might be liable this liability insurance can help cover the cost of compensation in these cases.
• Professional liability insurance – some businesses can be held liable for professional misconduct and if they make a mistake, they’re expected to pay for damages caused by the error. Most obvious include doctors, lawyers, architects, and accountants but you may also need liability insurance to compete for contracts or tenders with large companies and government agencies.
• Business continuity insurance – even if you are insured against personal physical losses and liability but if something happens that forces temporary closure, or reduces the amount of work the business can do, business continuity insurance can cover loss of revenue e.g. A hack of your IT systems might stop you from servicing your client for days or weeks.