100 Days Left: Your Essential Commercial Insurance Checklist

As we approach the last 100 days of the year, it's a prime opportunity to reassess and secure your business’s commercial insurance coverage. Running a business is undoubtedly challenging, but being well-protected offers invaluable peace of mind. Use this time to not only manage risks but also make a smart business decision for the future.

Workers’ Compensation

Review your staffing changes, payroll updates, and role restructuring. Inaccurate employee counts or outdated job duties can cause significant compliance issues or lead to incorrect premiums. Make sure all changes are documented and reflected in your policy.

Professional Liability (E&O)

Assess if introducing new services, updating client contracts, or taking on high-stakes projects might call for a refresh in your coverage. Protect yourself against potential claims of negligence or missed deadlines that could arise from these changes.

Property and Liability Coverage

Has your business expanded, relocated, or made significant purchases recently? Check that any added square footage, new equipment, or operational adjustments are covered. You might need policy updates or increased liability limits to ensure you're adequately protected.

Cyber Liability

In today’s digital age, it’s crucial to evaluate your digital systems, customer data storage, and online transactions. Data breaches, ransomware, and increased online exposure pose real risks, and your cyber liability insurance should address these evolving threats.

Commercial Auto

Verify that all vehicles and drivers are up-to-date in your policy records. Outdated fleet or driver information can lead to delayed claims or uncovered incidents, costing your business time and money during crucial moments.

By taking these steps now, you can prevent costly coverage gaps from appearing later. Think of this checklist as an investment in your business’s stability and security for the year to come. If you're unsure about any coverage gaps or opportunities, reach out to an insurance professional to discuss your options.