Titled “Risky Business: What Lawyers Who Fight Insurance Companies Want You to Know About Your Business Insurance Portfolio,” the article emphasizes the importance of regularly reviewing and updating business insurance policies to ensure comprehensive coverage.
Allen and Amy Wooten note that as businesses evolve, their insurance needs may change, potentially resulting in coverage gaps. They recommend that business owners collaborate with insurance professionals to assess their current policies and make necessary adjustments. This proactive approach helps in identifying and mitigating potential risks effectively.
In their article, they state:
This isn’t just an important consideration for your business, though; it should also factor into your thought process when considering businesses you are contracting with and how, through contract terms, you can further protect and mitigate risks for your company.
For a more in-depth understanding of how to manage your business insurance portfolio effectively, you can read the full article on Business North Carolina‘s website.
Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.