BUSINESS OWNER CORNER: AVOIDING LAWSUITS

Lawsuits can be a worry for business owners, and for good reason: 90% of businesses face one at some point (1). So, what can you do? Actually…a lot!

First, focus on prevention. Play devil’s advocate and ask yourself: what could go wrong with your operations or customer interactions? Implement safeguards like signs, cameras, and clear procedures to minimize risks.

However, prevention isn't foolproof. That's why business insurance is essential to manage unavoidable risks. Consider business insurance policies such as these:

General Liability: Covers injuries or property damage at your business or due to your work (e.g. a customer slips).

Professional Liability (Errors & Omissions): Protects against financial losses from your professional mistakes (e.g. a hair salon stylists accidentally damages customers hair).

Cyber Insurance: Guards against lawsuits from data breaches and cyberattacks.

Employment Practices Liability (EPL): Covers employee-related lawsuits (e.g. wrongful termination or harassment)

Being a business owner has its perks but dealing with the risk of lawsuits is not one of them. Don't get caught unprepared. By investing in prevention measures and securing the right insurance, you can protect your business and have peace of mind.

(1) https://www.thezebra.com/resou....