Seasonal Risks and How to Insure Your Business Against Them

Organizations of all sizes can be susceptible to various risks throughout the year, particularly around the holidays. As seasons change, it’s essential to consider what new business vulnerabilities may emerge and how to mitigate them. The following are some potential risks to keep in mind.

Seasonal Weather Events

Severe weather causes billions in damages annually in the United States; however, even mundane events like snowfall can create risks for a business, such as third-party slip-and-trip claims. Proactive building maintenance, such as shoveling walkways, can help reduce the severity of weather events and their impact on operations. Having proper insurance is also crucial; relevant options may include general liability insurance, commercial property insurance, commercial auto insurance, business interruption insurance and flood insurance, among others.

Increased Customer Claims

A business may see more customer foot traffic around the holiday season. While a boon for the bottom line, more customers can also mean more risk for an insurance claim. Organizations can look for opportunities to maintain safe environments for patrons during this season, such as by keeping floors clear, adding extra lighting and salting icy walkways. General liability insurance, and it’s product liability component, can also help insulate a business from customer-related claims.

More Theft Opportunities

The holiday season may entice more criminal activity. As businesses amass products to sell, thieves may be emboldened to break in and steal goods. Adding additional security measures, such as cameras or locks, can help reduce such risks. Proper business crime insurance may also offer vital assistance after an incident.

Greater Chance for Staff Injury

Around the holidays, businesses may have more staff working than usual or employ additional seasonal help. More personnel can increase the chance of a workplace injury or illness. As such, businesses can take steps to mitigate employee-related mishaps. This may include extra safety training and additional safety measures. If an incident occurs, workers’ compensation insurance could offer a critical safeguard for business finances.

Learn More

Help protect your business from financially devastating seasonal risks. Contact James V. Funaro Agency today to discuss relevant risk-mitigation methods and tailored business insurance options.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.