Restaurant customers often order a combo meal, since it includes everything most people need — an entree, a side and a drink. It’s convenient, cost-effective and makes a lot of sense. It’s like how a Business Owners Policy (BOP) works in insurance. A BOP offers a bundled insurance solution, making it easy to get the [...]
Cyber insurance has come a long way since the first coverages were added to other policy forms in the 1990s. Traditionally, cyber coverages were only considered necessary in the technology industry — or for those providing technology-related professional services. In the digital age, the growth of cyber risk exposures across all industries has led to [...]
Franchise businesses face many risks — physical damage to property, liability for customer injuries, employee injuries, cyber attacks and more. While insurance exists to protect your business against the costs of these types of incidents, your business can also do a lot to help prevent them in the first place. These four simple risk management plans [...]
A small business that uses vehicles as part of its operations faces certain risks that other businesses don’t. The right commercial auto insurance policy makes sure you’re protected so that you can get back to focusing on your business. What Is Commercial Auto and How Does It Work? Commercial auto is a type of insurance [...]
Every morning you open for business, there’s the opportunity for a lot of things to go right. Most days, they do. But every so often, you’ll have a day when something goes wrong. When it does, having the right insurance coverage will be important. Today’s businesses face many different kinds of risks, making the need [...]
Hiring and retaining quality employees has long been a challenge for franchises and small businesses, as recruiting resources can be low and finding the time for the process can be tricky. Increasing minimum wage and a competitive job market has made things even harder, with many companies responding by changing how they hire. But doing [...]
Your business changes from year to year, and your insurance may need to change with it. Whether your franchise experiences workforce changes, services changes or business changes, it’s important that your insurance coverage stays up to date. Lockton Affinity offers access to a variety of insurance products that can help safeguard your business throughout it [...]
Choosing franchise insurance can feel overwhelming. Workers’ compensation, business auto, property, liability, business interruption, cyber liability, umbrella liability—it can seem that there are endless insurance policies offered to your business. But which policies do you actually need? When buying your business insurance, it can be helpful to follow these guidelines to ensure you have the [...]
Despite your commitment to risk management and proper procedures to protect your business, claims can happen. When an incident occurs, avoid the panic. Save this article to ensure you remember how to respond to a claim correctly and efficiently if the time comes. Decide to file a claim It can be difficult to gauge which [...]
If your small business operations were interrupted, would you be able to bounce back right away? For 9 out of 10 small businesses, the answer is no. According to FEMA, being forced to close for just five days can cause the majority of small businesses to fail within a year. But if your business were [...]