Insurance Insights

Losing track of fuel purchased and losing actual fuel through siphoning costs your company money. In most fleet management budgets, fuel is the second biggest expense. Using common sense, software and locks, you can save your company significant amounts by preventing fuel theft.

The idea of a data breach is one that’s galling to pretty much anyone in the information technology field, but many of those professionals also recognize that such incidents are unavoidable to some extent. Whether they occur accidentally or as the result of a targeted attack, the fallout can be the same. And when companies do not succeed in making sure all possible protections are in place, they may run into major issues not only as a result of the breach, but also where their insurance companies are concerned.

Over the years, many entrepreneurs have likely learned the value of carrying various types of reasonably sized small business insurance policies, and that often includes professional liability insurance. This may be particularly true for those who work as consultants for other companies, because while they are an entity unto themselves, they may still end up dealing with unforeseeable issues for which such coverage may be a necessity. The problem, though, is that in many cases, people may underestimate their need for such coverage and potentially carry too little, largely because of misconceptions they might have.

Scams can cost a small business big. They come via phone, letter, fax, and of course the famous emails from Africa telling you that you are now a multimillionaire. Modern scammers are much like their snake oil granddaddies, just the technology has changed.

AAA recently put out a report warning drivers about the potential consequences of ignoring needed auto repairs. Not only does doing so put drivers and their passengers in danger, but also pedestrians and other drivers on the road as well.

Four out of ten small businesses will have an insurance claim in the next decade. This will likely be a property or liability insurance claim, and the most probable cause will be burglary and theft. However, some will be dealing with the most expensive of all claims for a small business, harm to reputation, including slander, libel and violation of privacy.

Identity theft and theft of customer data gives nightmares to small business people. It can happen easily, innocently, and unnecessarily when you don’t shred your old documents.

As a small business owner, with just a few company vehicles, you need to do everything possible to keep them on the road for as long as possible. Vehicles represent a major expense for a small company. That’s why you need to be aware of the problem of catalytic converter theft.

Small businesses can be hard hit from power outages. The causes vary from weather extremes to system overload. Either way, your company can sustain losses. By planning ahead of time, you can reduce the damage.

If you are at work and the power goes out, it can be frustrating to have your workday interrupted. But outages can cause more serious problems than just being unable to finish an invoice or get a power saw operating.