Delaware Business Insurance Update from CNC Insurance Associates, " Business Interruption Loss Feared Most" 1-15-17

A recent survey of  business owners on what they felt were their top risks, found that the risk of business interruption is feared the most. With tight margins and a continued sluggish economy , business owners know that they cannot afford for their companies to be down for any amounts of time. With this in mind,  let's take a look at the top 5 risks of business interruption.  Supply Chain issues tops out as the number one concern. Most businesses depend on just a few main suppliers or vendors. This dependency has a major financial risk to the business if the flow of goods or services were to be interrupted or stopped all together. Cyber Crime falls in as the second biggest risk. This is a growing problem that does not show any sign of slowing down. Rounding out the last three are Fire, Natural Catastrophes, and Machinery Breakdown.
Keeping the business open needs to be a main talking point for insurance professionals as they discuss risk management strategies with owners. The key to success will be a team approach where the tools of  insurance and risk management combine with the knowledge of business owners on what it takes to keep their doors open. The risks are higher today than they were yesterday. Until next time be careful out there and know your risks.

G. Kevin Nemith, President CNC Insurance Assoc. & The Small Business Insurance Center
Serving DE, MD, NJ, VA, & PA
www.cncinsurance.com
www.bizinsurancetv.org



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