Small businesses face unique risks and challenges, but a specialty insurer can be just the partner they need to help handle them. Chris Schramm, VP Underwriting – Head of Primary Casualty at Argo Group, explains how in a recent article for Insurance Journal.
- Insurers can place coverage over unexpected risks that business owners may overlook. The myriad of liabilities faced by business owners can be hard to keep track of. “Having an insurance partner to help navigate complex issues can make all the difference,” says Schramm. “Insurers often help business owners identify blind spots in coverage, avoid the unexpected, and provide adequate insurance when things go south.”
- Specialized coverage protects small businesses from threats they are especially vulnerable to, such as fraud. According to a 2018 Association of Certified Fraud Examiners survey, small businesses suffered higher annual median fraud losses than large businesses. “Small businesses usually lack larger organizations’ information security and anti-fraud precautions, so they tend to be the perfect victims for fraudsters,” says Schramm.
- Peace of mind from insurance allows businesses to invest more resources in growth and success. “Small business owners already have enough on their plates,” says Schramm. “They deserve an insurance partner who understands their unique challenges and vulnerabilities, aims to protect them and helps their business flourish.”
Learn more about how Argo Casualty’s coverage options can protect small businesses from unique risks.