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Business Insurance Trends

The business insurance world is changing at a fast pace. Technology is continually evolving and businesses must change or die. New technology also brings change in claims and litigation. Often lawsuits filed today are indicators of business liability claims tomorrow.

Business Insurance

Business or commercial insurance coverage is available for almost every conceivable risk your business might face. The cost and amount of coverage of policies vary among insurers.  Also the type of business you are in also impacts cost and coverage.  You should discuss your specific business risks and the types of insurance available for your business with us.

Future Business Insurance Risks

Intellectual Property

This is one of the fastest growing areas of litigation. The average defense cost is over $500,000. With more information being disrupted over the internet, claims are sure to increase. Intellectual property insurance coverage protects companies for copyright, trademark or patent infringement, and claims arising out of the company’s operation.

Remote Workers

Allowing workers to operate from home has many advantages for small business owners. These include fostering a happy workforce and reducing office space costs. However, despite all of the hype surrounding telecommuting, there are still potential risks to remember. This is particularly true if you have workers who work from home.

Cyber attacks

Recent news that Russian cyber thieves stole billions of passwords should create heightened awareness about the risks and need for cyber insurance. The problem, Munich Re explains, stems from the fact that “most traditional property and liability policies provide no cover for cyber risks” although there still may be a duty to defend until such time as coverage is determined.

Social Media

Social media is becoming popular with many businesses, and this increases the liability risks. The combination of personal use and business use combined with privacy laws increases the risk to business of being sued by employees and other third parties. There is definite increased risk of defamation, libel and slander for firms who don’t outsource the service.

Directors & Officers Liability

Most business owners don’t believe they can or will be sued despite statistics that show otherwise. The latest number by Chubb Insurance Company shows that about 20% of firms have been sued for directors and officers negligence. Claims can be made by shareholders, regulators, family members, customers, vendors and competitors.

Here at Mountain Insurance, we are dedicated to providing our clients with the highest quality in business and personal insurance products and services at the most competitive prices.

We’ve been in operation since 1997, and in that time we’ve learned a thing or two about the diverse, unique, and specific insurance needs of our clients.

While it can be tricky to find the right policies to cover all the variables of your personal and business assets, our knowledge and expertise can help you get the coverage you need for a price that works for you.

Mountain Insurance

The right coverage at the best price. Colorado's trusted insurance advisers since 1997

About Us

We are dedicated to providing our clients with the highest quality in business and personal insurance products and services at the most competitive prices in Denver, CO.

3705 Kipling Street, Wheat Ridge, CO 80033
303 420-4774
info@mountaininsurance.com