INSURANCE - BUSINESS PERSON'S BEST FRIEND!!
Well at least every person in the insurance industry wishes their clients felt this way, but reality says differently. Insurance is seen as a "necessary evil," "paper and promises," and many other not so flattering descriptions. I can't tell you the number of times a client or prospect has said how difficult it is to pay a premium for something I have never used. Unfortunately, nobody likes or fully appreciates insurance until they have a loss. Whether you are a manufacturer of a hazardous material, or you are an ice carver, the fact remains, you are subject to risk. If you don't properly insure that risk, then it becomes self insured, or, in other words, it comes out of your pocket.
As an owner of an ice carver business it is just as important as any other industry to make sure you have the proper insurance in place. When your life's investment becomes your business it is only in your best interest to make sure that your asset is properly protected. The insurance industry has done an excellent job at creating insurance for everything. The key is to know your exposure and protect those exposures that create the biggest threat to your asset. This includes all lines of coverage including liability, property, auto, workers compensation and other management liability policies. As you sit down and do your annual business plan, always take a minute with your insurance broker to do a risk assessment. Determine where you need coverage, where your business has changed and even where you don't need coverage.
I doubt all of you will ever admit insurance is a business person's best friend, but make sure you fully understand your insurance before a loss rather than after.
Eric S. Treend
Britton-Gallagher & Associates, Inc.
NICA Member
440-264-2743
eric_treend@britton-gallagher.comI have met with Eric on 3 or 4 occassions & we currently use Britton-Gallagher & Associates, Inc. for our insurance coverage. His service has been prompt & thorough.
