Saturday, September 4, 2010

Advice Column: Minimize Risk to Maximize Business Potential


"As any good entrepreneur knows, one can work hard, create a good product and maintain good business relationships -- do everything right -- and still some future events are beyond one's control.  A whole host of unforeseen possibilities can dash the dream, including the impact of disability suffered by you or an employee.

Planning for success requires taking a hard look at where the business is vulnerable.   Statistically, you, or any of your employees, are three times as likely to become disabled during your work years as you are to die.  A sound risk management plan's purpose is to lessen the impact of a disability on your business.  What are your options?

There is coverage to protect human capital, and coverage to protect your ability to do business.  The specific types of insurance you need will depend upon the type of business you have and how you conduct that business.  But selecting the right coverage for your business should not be a "deal or no deal" decision.  The challenge is to find the right combination fo policies that provide protection without duplicating coverage.

To discover this combination, read the full article on our website.  To add your own advice, send it here.

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