Business Risk Insurance

Every business has its own risks. Financial risks arise most often from the inaction of the businessman himself at work. Before drawing up a contract with an insurance company, you must clearly know what risks you insure and what you can get from insurers as compensation.

The subject of entrepreneurial risk. What can a businessman insure?

For starters, this is all the property that is in circulation of the organization. To the property can be attributed absolutely everything that is worth some kind of cash investment, whether it be work tools, whether it is an office or transport that carries workers. Property can be insured against theft, wear and tear or other cases. It is also possible to insure the entrepreneur’s liability against default on debts, loans, etc. You can also insure non-payment of interest on shares that the entrepreneur wanted to put into circulation of another company.

They insure absolutely everything, even the result of work. You never know how it really will turn out, an entrepreneur planned one thing, but got another, in this case there is also a risk. It is also beneficial to insure working equipment, because it can easily break, and this will bring losses to the company. A lot of problems can befall a businessman with employees who can also be insured. But you need to register in advance that compensation will only be in the event of an industrial injury, accident or something else, at the discretion of the entrepreneur. In any case, the laws on labor protection and safety must be strictly observed.

Insurance Amount

The amount of insurance is prescribed in the legislation of the Russian Federation, it is based on the finances and risk of the entrepreneur. The insured amount is the compensation of the insured if an insured event occurs. If more than one insurance subject is specified in the insurance contract, the principal amount is made up of parts of that amount. Whatever the insured event, you must immediately decide how much will be so that there are no problems in the future, and the businessman knows how much compensation is due to him and for what. Spend more time, but solve this issue right away than to then run around the courts and decide who and what should be. All amounts are negotiated and processed immediately.

When drawing up an entrepreneurial insurance contract, there are a number of features:

1. A contract must be concluded in writing, otherwise it will be considered invalid.

2. The contract may be drawn up by one document or by an insurance policy signed by the insurer. Mandatory conditions will be spelled out in the contract and must be signed by the parties.

3. You can insure not only employees, equipment, but also the responsibility of the entrepreneur. At the request of the entrepreneur, the insurance company must provide him with a certificate of registration and license. Casco often implies a franchise. A deductible is the amount of loss from which the entrepreneur does not receive insurance. That is, this is part of the loss, interest for this part is not returned. The amount of interest is prescribed directly in the insurance contract. Remember, if you take a responsible approach to insuring your business and not rely on Russian luck, you can avoid many problems, and, most importantly, not lose everything overnight. Be prudent!