Tailored insurance: the key to business survival

From the moment it opens its doors, a business faces innumerable unforeseen risks. Your business is no different. The good news is that with the right business insurance in place, you won't feel the pinch of recovery expenses and costly litigation.

Why insure your business?

Forecasting your business's future financial situation is important, but safeguarding it against unpredictable events is even more critical.

With sufficient insurance cover in place, your business will be able to withstand unforeseen events like property loss, damage and theft. It will also be protected against the ever-evolving risks of the 21st century.

Discovery Business Insurance's Chief Operating Officer, Lana Ross, shares, "If you choose the right type of insurance for your business, you can give all your attention to what you do best - operating and growing a productive, profitable and rewarding business for years to come."

Find your perfect fit

Most business owners invest a great deal of time and effort in differentiating their products and service offering from that of their competitors. However, very few are as dedicated in finding the best possible insurance solution for their specific industry's business needs.

Because no two businesses are alike, stock-standard insurance policies and risk solutions are no match for tailor-made business insurance. Choosing an insurance solution that is designed to meet your specific needs can be a game-changer. This applies to any industry, whether you run a restaurant, work in healthcare, run a fleet of heavy commercial vehicles, are a fuel retailer or operate in the legal and accounting arena.

Choose protection that keeps up with fast-growing risks

Every business could benefit from having liability insurance. This insurance protects your business in the event of a lawsuit or any third-party claim.

This means that you will be protected against losses if you are legally responsible for paying third-party compensation because of your actions or negligence, or the actions of anyone acting on behalf of your business.

Threats like cyber, reputational and legal risks are expanding because of our world's rapid technological advancements. So, it is crucial to choose an insurance partner that can keep abreast of the technological landscape and help you best manage the evolving risks.

"South Africans lose at least R2.2 billion to internet fraud and phishing attacks every year. In response to this alarming statistic, Discovery Business Insurance offers cyber cover to protect businesses against losses relating to an insured cyber event. And, because rapid reaction minimises damages and loss, our expert partner AVeS Cyber Security offers immediate remote assistance following a cyber breach. This ensures that a client's system can be restored quickly," says Lana.

Accidents happen, both in life and in business. Making sure that your business has comprehensive cover against all major risks, will give you peace of mind. With the right insurance partner on board, you can do more than just manage the risk of your business - you can grow your business too.

For more about innovative business cover for modern-day risks, contact your broker or get a quote from Discovery Business Insurance today.