Cost Cutting by Cutting Coverages, The Small Business Owners Risk

A recent Conning study showed that small business owners have enjoyed the soft market but have gone the extra measure by cutting back coverages to cut costs. The recession has made the small business owner look deep into cutting back to survive and insurance is on the top of the list of expenses. However the risk of business increases when coverage is cut or when claims become self insured. Finding the right balance between risk and coverage is tougher than ever. Insurance agents and brokers can help business owners find that balance. Until next time be careful out there and know your risks.  K

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