Make sure you expect the unexpected

As recent events around the globe have amply demonstrated, assessing the potential risks facing a country’s population and economy is never easy.

Thankfully, assessing the potential risks to your business is an easier and more manageable task. A whole range of unforeseen events can impact on your day to day operations, and insurance is available to protect against most eventualities.

Standard insurance policies normally cover loss of profits following any damage at your premises. This cover can be extended to include a wide range of other risks which could impact on trading and lead to a loss of turnover or increased costs. Examples include: ·

• damage to suppliers’, customers’, sub-contractors’ and storage premises anywhere in the world 
• loss of access to your premises caused by damage nearby 
• damage to a local attraction, such as a sports ground, that affects the trade of your business 
• closure or reduced turnover because of a murder, suicide, infectious disease, loss of license, defective sanitation, a bomb hoax or riots nearby 
• death of a key employee/director, or the death of a member of the Royal Family or a personality used in an advertising campaign 
• damage to specialised transport vehicles or to any contract site 
• breakdown of key equipment or loss of utilities
• reputational damage, breach of copyright or patents

In many cases, your risks can often be contained by dual sourcing, changing the way you do business or having viable contingency plans. In some cases however, special insurance may be the only solution to give you peace of mind – as well as being a lower cost option.

To find out more about a risk assessment please get in touch.

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