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Published on May 2, 2014
www.identifyyourrisk.com (512) 828 - 4200
In an ideal world, you would be able to afford an insurance program that would protect you from any conceivable exposure. But if you're like most startups and cash flow is a huge issue, then you have some critical decisions to make. Make sure that you make educated ones.
So, what insurance is essential and what is nice to have? Well that obviously depends on the particulars of your business. But I can tell you that we have to diagnose the problem before we can prescribe a solution. The first step is to start with an assessment of potential threats that includes risks in these areas:
- Employees - Third Party Liabilities - Intellectual Property - Contracts - Threats to net income
Once the assessment is completed and the exposures are analyzed, you can then make educated decisions that will help answer the following questions about risk:
- Which ones pose an immediate threat? - Which are most likely to occur? - Which can be the most damaging? - Which ones should retain or self-insure? - Which can be transferred contractually? - Which ones can be avoided altogether?
The good news is that there are affordable solutions, and, for a limited time, you can get a practical risk assessment customized to your business at no charge. Just go to identifyyourrisk.com, answer a few questions, and we'll go to work and provide you with an exposure analysis summary.