Indemnity Insurance – Is it Essential for Your Business?

insurance policies

Every smart business owner will understand the value of insurance. If you own any business, it’s crucial that you protect your livelihood with the right cover. Whether you’re operating as a sole trader or you have an army of employees, you are responsible for any legal implications arising from your work.  And without adequate insurance, your assets are at stake.

If your business offers a professional advisory service, indemnity insurance is necessary to stay protected. While you may be confident in your abilities or have a proven record of accomplishment, it doesn’t safeguard you from legal action being taken out against you. Unsure whether indemnity insurance is right for your business? Here are some essential tips to weigh up:

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Leadership and Reputation – The Biggest Business Risks for 2018

Leadership-Reputation-Business-Risks-Brand

“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” – Warren Buffett.

 

I find myself appealing to the wisdom of this quote a lot. Why? Because people still don’t seem to get it! I don’t know if they ever will.

We live in a time of unprecedented uncertainty and distrust and yet people still fail to recognise that reputation is everything.

Business leaders recognise the need to conduct business risk assessments, but all too often we overlook some major risks. Time and again I see people – smart people – underestimate brand and reputation as major risks. Often I see people fail to recognise brand and reputation as risks at all.

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