No matter where your business is located, there will be significant risks to its safety. In New Jersey alone over the past few years, natural disasters such as Hurricane Sandy have caused over $50 billion of damage to homes a businesses; a truly remarkable figure. This, however, isn’t the only area where natural disasters have struck local businesses, and even on the other coast of America in California, a drought cost the County $2 billion as well as thousands of jobs. Sadly, natural disasters affect thousands of lives across the world and, if your business isn’t correctly protected, it could go under. Here’s what you need to ensure your business is covered for every eventuality.

What Can Affect Your Business?

It isn’t just natural disasters that can cause damage to your business, and everything from injuries to staff or customers to a fire in your warehouse can cause significant damage and costs to the business. Because of this, your business insurance must be studied carefully and shouldn’t involve you signing a form you’re not reading carefully. With companies like Catlin offering unique underwriting solutions, why would you ever get an off the shelf policy? Here’s what yours must include:

Covering the Basics and All Other Options

This may sound incredibly simple, but you have to ensure that your insurance would cover every possible eventuality. This should include a number of factors, including but not exclusive to:

• Injuries to staff members or customers
• The death of staff members or customers (no matter how unlikely this may seem)
• Damage to property
• Protection for company officers, executives and directors for their roles and responsibilities within your company (protecting them against alleged wrongdoing)
• Fiduciary liability insurance (protection against claims of mismanagement)
• Protection against sexual harassment or discrimination claims
• Specialist insurance for niche business types dealing with chemical or other volatile products.

Of course, this list is by no means exhaustive and there are other elements of insurance that it is likely that you will have to consider. As well as this, it is also highly likely that you don’t have the awareness of exactly what your business needs, especially considering the technicalities and legalities that come with business insurance and the jargon that is associated with it. Due to this, before deciding on what option is best for you, it is vital that you consult with the professionals. That way, no matter how many hurricanes, natural disasters or staff mishaps come your way, you’ll know your business is correctly covered through thick and thin.