SMB Insurance Quotes

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May 07, 2024

by a searcher from Rice University - Jesse H. Jones Graduate School of Business in Houston, TX, USA

Hi community - looking for quotes for a fire protection company. Any highly recommended brokers or companies to seek out? Thanks in advance!

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Reply by a searcher
from Concordia University in New York, USA
I'd be really interested to hear from anyone on this thread about insurance requirements related to preventing hacks. It's my understanding that claims are often not paid out (is this due to not having cyber coverage, or not taking the necessary precautions to avoid an incident?), leading to 60% of SMBs going out of business within a year of a breach. What sort of guidance are insurers providing related to working with professionals to reduce the attack surface, if any?
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Reply by a searcher
from Bentley University in Exeter, NH 03833, USA
Crazy insurance question tied to SMB's and SearchFunder... Has anyone looked at establishing a captive insurance company (CIC) to focus on this community? I would have to imagine there are some companies here large enough to band together, create a risk-pool, and self insure... Getting the benefit of the capital of their premiums growing off on the side, if claims are below expectations. Or in an amazing world - no claims, and a ton of capital growing on the side.
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