Three COVID-19 Concerns for Business Owners, and How Their Insurers Can Help
COVID-19 has brought disruption to every industry and sector, but brick and mortar businesses and certain real estate companies have arguably taken the hardest economic hit. With state-ordered shutdowns of non-essential activities and physical distancing guidelines in place, businesses that depend on people coming through the doors have no choice but to drastically reduce their operations or halt them entirely.
In turn, those businesses may be unable to pay rent to the real estate owners, while any laid-off workers may also struggle with paying rent.
The rapid changes due to the pandemic and the initial imposition and phased relaxation of the lockdown have also had a major impact on exposures to insurable risks. As strategic business partners and trusted risk advisors, carriers can help companies navigate their shifting exposures, reopen responsibly, and remain financially viable through it all.
Here are three ways insurers can address top concerns voiced by business owners during the COVID-19 pandemic:
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