Business insurance is a financial and legal protection for risks associated with day to day operations. Many companies may settle for a general liability policy or business owners policy, which takes care of concerns with accidents, product liability, advertising troubles or property damage. However, if your business is working in a unique industry, special risks insurance brokers can tailor a policy that will cover any gaps in a general policy.
Industries and Companies with Special Risks
The following list is not comprehensive, but it will give you a good idea of companies or industries that may carry special risks.
- Sports and events
- Healthcare institutions
- Community or non-profit associations
- Staffing companies
- Financial or insurance institutions
- Transportation operations
- Energy and environmental support facilities
Coverage Potential for Companies Needing Special Risk
A company with a special risk simply means they are exposed to liabilities and risks that are not typical of general policy coverage but are specific to their operations. With that being said, special risks insurance brokers will offer a policy that includes the general protection found in a business policy, but have additional liability areas or extended policy limits to best address your exposure. The broker will fully understand areas of liability and craft coverage accordingly.
Consider your current liability policy, and determine whether you have enough coverage your unique situation.