More than $112 billion was lost to retail shrinkage in a recent year, according to the National Retail Federation (NRF). Retail loss, or “shrinkage” as it is commonly called, is a severe problem in the United States. A retailer loses a certain amount of inventory due to damage, employee theft, and shoplifting. These losses affect your business’s bottom line and your livelihood. In a world...
A side business is a great way to make extra money or pursue your passion before building it into a full-time career. If you are considering starting a side business or are already successful in an endeavor, it is essential to consider your insurance coverage. Depending on your product or service, you may need various types of coverage. Here are some pointers to protect yourself...
October is National Cyber Security Month, a time to focus on the rising threat of cyberattacks and hacking incidents. With the increasing prevalence of digital threats, businesses and individuals risk falling victim to hackers. If you discover you’ve been hacked, acting quickly to mitigate damage and secure your information is essential. This guide outlines the immediate steps to recover from a hack and prevent future...
Equipment malfunctions can severely disrupt business operations, leading to delays and lost productivity. Whether it’s a computer crash, machinery failure, or technical breakdown, these unexpected issues can disrupt your workflow. However, maintaining productivity despite such challenges is central to ensuring your business runs smoothly. By implementing strategies to manage equipment failures effectively, you can minimize downtime and keep things moving forward. 1. Assess the Issue...
As the end of 2024 approaches, the nature of business risk continues to evolve, driven by technological advancements, regulatory changes, and global challenges. Staying informed about emerging trends allows businesses to protect themselves against threats. There is a growing trend in crafting a business insurance policy that addresses risks associated with data breaches, regulatory compliance, the workforce, catastrophic weather, and social inflation. 1. Data Breach...
