Recently, small business owners were surveyed to help identify some of the top risks they faced when growing their businesses1. Many small business owners are unaware of the new, and increased, risks that come with growth. For example, many business owners erroneously think that a claim is not covered, so they fail to file the claim. A leading commercial insurer has identified the top five most costly business insurance claims.
Leading losses for small businesses and the average claim cost
New and growing risks faced by expanding businesses
As your business grows, your risks change. It is beneficial for business owners to have an understanding of how risks change because of growth.
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1Source for article: PC360.com