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Risk Management
Who Let Murphy Invent That Law, Anyway?
We all know Murphy’s Law: “Anything that can go wrong, will go wrong.” And in business, it’s true—especially in a new startup business.
What Every Entrepreneur Needs to Know About Liability
While it’s true that some businesses are inherently riskier than others, all business owners (including freelancers) should be familiar with potential liability issues and what they can do to minimize the risk.
Employment Practices Liability
While many business owners take the time to protect themselves and their businesses from outside risks, these are not actually the largest risks you face. In most cases, you are far more likely to be sued by an employee than an outsider.
Are You Ready for Crisis Communication?
Being hit by a natural disaster (tornado) and man-made disaster (fire) within a two month period will get you thinking about crisis readiness! Having survived the aforementioned events without more real pain than insurance company and contractor frustration, I am quite aware of how much worse things could have been for our family and for my business.
Do You Need Directors and Officers Liability Insurance?
Many risks that your business faces are directed at your company’s actions. However, there are other dangers that apply specifically to individuals and their actions. Directors and Officers Liability Insurance (D&O) protects your company’s CEO, COO, CFO, and other corporate officers and outside directors.
What is a Business Owner’s Policy, or BOP?
One of the most popular insurance forms for small businesses is a business owner’s plan, or BOP. These policies have developed in recent years and increased in popularity. These policies are convenient and specifically designed for small or medium sized businesses.
What You Can Do to Protect Your Business
Opening a business is as hard as it is fulfilling. As a future business owner you will need to take many precautions to ensure that your business will be lucrative. While a solid marketing strategy and insurance plan will not ensure that your business will have enough funds to operate, it will at least give you and your business a fighting chance.
Safety First. Profits Follow.
Much of workplace safety is common sense. But there is a natural tension between economy of operation and provision for safety for employees, and the resulting risk to the enterprise must be carefully weighed.
7 Ways to Protect Your Home-Based Business
Just because you manage your company from your family room doesn’t mean you should approach it too casually. You still need to consider the health and well-being of any employees, subcontractors and clients; safeguard expensive equipment and important data; and maintain a professional image to your clients.
Disaster Recovery and Other Happy Subjects
Have you been open in sharing your knowledge and talent with a backup, or even a potential successor? It is prudent and certainly a sign that you take this responsibility personally as a leader among your peers and subordinates.
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