Small business insurance is a type of insurance coverage designed to protect businesses from financial losses due to a variety of risks, including property damage, business interruption, liability, and employee injury. Small business insurance policies typically include a variety of coverage, depending on the needs of the business. Common types of small business insurance include:
1. Property Insurance: Property insurance protects businesses from losses due to damage to physical assets, such as buildings, vehicles, equipment, and inventory.
2. Liability Insurance: Liability insurance covers third-party claims for bodily injury or property damage caused by the business’s operations, products, or services.
3. Commercial Auto Insurance: Commercial auto insurance covers the vehicles used for business purposes, such as delivery vans or company cars.
4. Professional Liability Insurance: Professional liability insurance covers claims of negligence or malpractice by the business or its employees.
5. Business Interruption Insurance: Business interruption insurance covers losses due to an unexpected disruption of the business, such as a natural disaster.
6. Workers’ Compensation Insurance: Workers’ compensation insurance covers medical expenses and lost wages for employees injured in the course of their job.
7. Cyber Liability Insurance: Cyber liability insurance covers losses due to a data breach, cyber attack, or other online security issue.
8. Product Liability Insurance: Product liability insurance protects businesses from losses due to defective products.
By purchasing the right type of small business insurance, businesses can protect themselves from financial losses due to unexpected events.
Credit insurance for small and medium-sized enterprises
With credit insurance, small and medium-sized enterprises can calmly manage the business and political risks associated with business transactions, especially with new customers. The company’s capital remains protected and secure, as it is not exposed to the risk of over-indebtedness due to liquidity shortages and can rely on the insurer to provide compensation in the event of customer insolvency.
Credit insurance supports the entrepreneur in all activities necessary to protect the company from unforeseen events. These include:
- The access to business information
- The management of commercial receivables
- The management of credit recovery actions and insolvencies
For this reason, credit insurance is a valuable tool that allows the company to manage all these activities with a single solution and with the use of expert advice, with the aim of reducing credit risk as much as possible.
