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Protecting your business with insurance.

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Protecting your business with insurance.


The list of exciting things to do for a nightclub or bar owner or manager does not include buying insurance. Usually it is in the “necessary evil” category.  However if you ever have a claim, that “evil” portion of that phrase disappears. You will quickly realize that coverage is essential and necessary, and you will be downright grateful that you have it.

If your business burns to the ground.  Do you have loss of income coverage and/or extra expense coverage to help you recover?  Do you need “building laws” coverage?  Do you know which perils are covered and which are excluded?

If you become permanently disabled.  Do you have a policy to continue your income stream during your period of disability?  Do you have someone on staff who can temporarily replace your role?

If a liability claim is brought against you and your business is found negligent by a court and forced to pay a $2,000,000 judgment plus your own attorney fees of $350,000.  Is your liability coverage properly structured and do you have sufficient limits to properly protect your interest?

Are your insurance policies fully compliant with terms of your lease agreement?

If you’re sued as a fiduciary for negligent administration of your 401K plan or you make an error in the management of your employee benefit programs.  Are you covered?

If a long-time, “trusted” employee embezzles $250,000 from your business.  Do you have coverage in place to protect your against such a loss?

Have you considered voluntary benefit programs for your employees?  These are programs that cost you nothing yet provide an excellent benefit for your employees?

Insurance is a necessary evil.  No one likes to spend money on something they don’t ever think they’ll use but, when they have a loss, if their coverage is properly structured, they’re very thankful they have it.

Very few people have the financial wherewithal to “self-fund” their exposures to loss. Therefore, most business owners purchase various types of insurance coverages to help fund exposures they see as being potentially devastating to their business.  The rationale is simple:  the business owner has spent years and years building a successful business and they want to protect their personal and financial investment in their enterprise.

As a licensed agent in all 50 states we would like to offer you a “no obligation” review of your current insurance program.  We’re confident we can fill the “holes” that exist and guide you in judiciously structuring a program that meets your needs.  To benefit from our services, please call me at 888-544-0844 or contact me via email at jwatson@cimaworld.com.