Business Insurance Strategies in a Changing World
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SECTION 1: BUSINESS, INSURANCE AND THE COVID-19 PANDEMIC |
4 |
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THE STATE OF INSURANCE BEFORE THE COVID-19 PANDEMIC |
4 |
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THE EFFECT OF THE COVID-19 PANDEMIC ON BUSINESSES |
8 |
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THE BIG ISSUES SURROUNDING BI INSURANCE AND THE COVID-19 PANDEMIC |
10 |
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DIRECT PHYSICAL LOSS OR DAMAGE TO PROPERTY |
11 |
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COVERED CAUSES OF LOSS AND EXCLUSIONS |
13 |
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CIVIL AUTHORITY |
14 |
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THE LIMITATIONS OF INSURANCE DURING THE COVID-19 PANDEMIC |
14 |
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SECTION SUMMARY |
17 |
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SECTION 2: RISK MITIGATION WITH BUSINESS INSURANCE |
19 |
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UNDERSTANDING RISK MANAGEMENT |
20 |
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AVOIDING RISK |
21 |
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REDUCING RISK |
21 |
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ACCEPTING RISK |
22 |
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TRANSFERRING RISK |
23 |
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UNDERSTANDING BUSINESS INSURANCE STRATEGIES |
24 |
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CONDUCTING A RISK ANALYSIS |
25 |
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MEASURING THE RISK VALUE |
27 |
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BUSINESS INSURANCE STRATEGIES: A GENERAL OVERVIEW |
28 |
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GENERAL LIABILITY INSURANCE |
29 |
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COMMERCIAL PROPERTY INSURANCE |
31 |
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BUSINESS OWNER’S POLICY (BOP) |
34 |
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REQUIRED COVERAGES: COMMERCIAL AUTO INSURANCE AND WORKERS’ COMPENSATION |
35 |
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COMMERCIAL AUTO INSURANCE |
36 |
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WORKERS’ COMPENSATION |
39 |
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AN ADDITIONAL BUSINESS INSURANCE STRATEGY: LIFE INSURANCE FOR BUSINESS OWNERS |
44 |
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BENEFITS OF INSURANCE FOR BUSINESSES |
47 |
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BUSINESS INSURANCE IS A LEGAL REQUIREMENT |
47 |
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BUSINESS INSURANCE MINIMIZES FINANCIAL LOSSES |
47 |
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BUSINESS INSURANCE PROTECTS A COMPANY’S EMPLOYEES |
48 |
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BUSINESS INSURANCE PROTECTS ASSETS AND PROPERTY |
48 |
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BUSINESS INSURANCE PROTECTS A COMPANY’S CUSTOMERS |
48 |
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BUSINESS INSURANCE ASSISTS AFTER A NATURAL DISASTER |
49 |
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BUSINESS INSURANCE BUILDS CREDIBILITY |
49 |
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BUSINESS INSURANCE MAY HELP SUSTAIN GROWTH |
49 |
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BUSINESS INSURANCE PROTECTS MANAGEMENT |
50 |
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BUSINESS INSURANCE OFFERS PEACE OF MIND |
50 |
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SECTION SUMMARY |
51 |
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SECTION 3: SPECIAL RISKS FACING BUSINESSES TODAY |
53 |
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CYBERATTACKS AND OTHER CYBER-RELATED EVENTS |
54 |
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THE PROBLEM: THE QUESTION OF INSURABILITY |
57 |
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THE SOLUTION: GOING BEYOND RISK TRANSFER |
59 |
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THE BENEFITS: THE COVERAGE YOU NEED |
62 |
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NATURAL AND MAN-MADE CATASTROPHES |
64 |
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THE PROBLEM: TRYING TO COPE |
66 |
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THE SOLUTION: A MULTI-POINT STRATEGY |
68 |
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POINT 1: REVIEW YOUR OPTIONS |
68 |
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POINT 2: TAKE PRACTICAL MEASURES |
70 |
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POINT 3: DEVELOP A DISASTER RECOVERY PLAN |
71 |
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THE BENEFITS: FILLING THE GAPS |
74 |
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SUPPLY CHAIN DISRUPTIONS |
74 |
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THE PROBLEM: GAPS IN CONVENTIONAL INSURANCE |
77 |
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THE SOLUTIONS: ACHIEVING SUPPLY CHAIN RESILIENCE |
78 |
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THE BENEFITS: HAVING WHAT IS NEEDED |
81 |
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SECTION SUMMARY |
84 |
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COURSE REVIEW |
87 |
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SECTION 1: BUSINESS, INSURANCE, AND THE COVID-19 PANDEMIC |
87 |
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SECTION 2: RISK MITIGATION WITH BUSINESS INSURANCE |
89 |
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SECTION 3: SPECIAL RISKS FACING BUSINESS TODAY |
91 |
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REFERENCES |
93 |