The proper insurance coverage is vital to protect your business. Insuring your assets will help your company avoid any financial hardships due to employee claims, business losses, damage, theft, and more. You’ve worked hard to establish your business and accumulate wealth; protection through commercial insurance adds a level of security that helps your business continue to grow while you rest easy through peace of mind.

Advantages of insurance for your company

If the past year has been any indication of the uncertainty a business can face, now is a better time than ever before to find out why commercial insurance is critical for your business. Having insurance is necessary because it helps you:

  • Maintain financial security. Regardless of the profits your company is posting, a catastrophic event could change everything. Insurance helps you avoid that.
  • Transfer or minimize risk. Rather than assuming 100-percent of the risk, you’ll reduce it with like-minded companies through pooled risk, or transfer it through premiums to a carrier.
  • Complete protection for your business. Carrying insurance that meets all your needs ensures you’re comprehensively covered. Not sure what you’ll need? Check with a risk management company for a consultation.
  • Peace of mind during difficult times. You never quite know what your business will face. But when your company is properly insured, you can rest assured knowing your assets are protected regardless of what the world throws your way.

Work with someone who understands

It helps to work with a partner who understands and can lend their expertise. Odell Studner offers customized risk management solutions and insurance products to help your business run smoothly. We’ll work with you for a thorough understanding of your needs, exposure, and tolerance to loss. Then, we’ll recommend steps to proactively reduce, transfer or eliminate exposure. Our consultative risk management services help companies protect their livelihood, to continue efficiency and profitability.

A complete risk audit and assessment

Odell Studner will complete a thorough audit and assessment of your risk, which includes:

• Identifying potential issues and evaluating the effectiveness of your current insurance program in addressing those issues. This includes a review of any current contracts you may have in place.
• Providing a comprehensive loss forecasting and retention analysis.
• Finding opportunities to reduce and/or control your risk exposure, such as various program structures and alternative funding vehicles.

Benefits of captive insurance

One method of protecting your assets is through alternative funding with a captive. Different from commercial insurance, a captive provides your company specific advantages, such as improved cash flow, more control, and the possibility of profits. Working with Odell Studner, you can discover if this solution is right for your company.

Want to learn more?

Odell Studner provides consultative risk management services that help our customers take action to reduce risk, accelerate growth and increase profits. To learn more, contact us today!