Insurance premiums are going up in Australia and around the world. The time has come to think about “business insurance” as risk to mitigate, not as a bill to pay.
You need insurance for many of the good things in life, but no one teaches you how to buy it. Especially not many of the insurers selling it. Here are three classic rookie errors.
The right business insurance enables you to take risks because it puts a net under the trapeze. Knowing this, you can swing out harder and reach higher. You can push yourself.
Some sectors – like children’s play centres – are simply more risky and lawsuit-prone than others. This doesn’t mean you can’t be a safe operator though. Read on for a real-life story.
Don’t listen to what the economists say. We humans are not rational creatures. Our mental blindspots are huge and we’re prey to literally hundreds of cognitive biases. If you lead a business, your biases are leading it right along with you.
How much do you know about insurance for your business? If you think you don’t know enough, you’re probably right. If you think you’re across it, it won’t hurt to read this just to make sure.