By Rocco Fiorentino, President and CEO of Benetrends
We all learned how important the right insurance coverage can be, when hundreds of businesses suffered power outages lasting for weeks due to Hurricane Sandy. Business interruption coverage played a critical role in the survival of many businesses that were unable to open due to power outages, resulting in loss of revenue and loss of property.
For many business owners, it was the difference between re-opening their doors and going out of business. Let’s face it; no one wants to be under insured and no one wants to pay to be over insured! Proper coverage and limits should be reviewed by you and your agent on an annual basis.
Key Business Insurance Components
General Liability insurance is the core of a commercial insurance policy. The policy protects your business from claims of bodily injury, property damage, negligence claims and includes protection for litigation resulting from these claims, including defending lawsuits up to the policy’s coverage amount. (more…)