Insurance risk refers to the possibility of something going wrong that would expose your business – or the insurer – to financial damages. Business risk and insurance risk often overlap. By fully understanding the different types of business risk, you can better understand insurance risk and thus how insurance can protect your business from serious problems.
Here are the four main categories of risk to consider:
Operational: Operational risk addresses your business’s day-to-day dealings, including handling equipment, workers, customers, and your overall product or service. By insuring tangible assets like equipment and property, you can mitigate risk, and by protecting your business operations from outside events, like natural disasters, you’ll be covered.
Dispatches From The Front 