6 Big Business Insurance Risks (and How to Mitigate Them)

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Every business comes with a certain amount of risk. Although pitfalls and challenges can’t be avoided, they can be mitigated with the proper precautions, planning and insurance coverage.

Insurance and legal experts shared their thoughts on today’s biggest insurance risks for business owners, and what you can do to protect yourself against them.

Data breaches

Businesses in all industries have seen a huge increase in cybersecurity problems in recent years. Chris Roach, managing director and national IT practice leader of CBIZ Risk & Advisory Services, said data hacks have hit fast-food retailers and e-commerce businesses particularly hard. However, he added that every business that accepts credit cards should be re-evaluating and standardizing its security practices to protect against fraudulent activity.

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