Four Emerging Risks For Every Business

Every Colorado And Arizona business is different and has its own set of risks. We operate in a

shrinking world, and the risks faced by local businesses are increasing and interrelated to what

may be happening around the world. Every business will suffer some claim or financial loss

during its lifetime. We have found four emerging risks that every business must face and



Natural Catastrophes
In the Northeast, every business is subject to weather and other

natural events. While business insurance may cover many of these, it pays to be prepared.

Have you considered flood insurance or wind insurance if you operate close to the coast? We

suggest that every business have an emergency plan to help them manage through natural



Cyber Risk
A small business now has a greater chance of having a cyber-breach than of

having a fire. It is important to have cyber liability insurance in place, and have a set of cyber

procedures to help reduce the possibility of a breach.


Foreign Products
There is an increase of products, parts, equipment, tools, and more that

are being manufactured outside the U.S. This can create an issue for local businesses,

especially if the product fails and causes a loss. If you use or sell any products manufactured

oversees, make sure that you have received a Certificate of Products Liability Insurance, and

make sure that your insurance carriers know this.


The Workforce
The workforce is getting older, and local businesses must attract new and

younger employees. It will be important for businesses to consider things like remote workers,

flex time, and a more creative working environment, to attract the next generation of workers. In

addition, employers must consider increasing benefits packages, retirement programs, and

other non-financial perks.


Finding the policy that is right for your business is important, but high level of customer service

is just as imperative. We understand that when you need us, you don’t have time to wait. We at

Colorado and Arizona Insurance pride ourselves in being responsive with fast turnaround on

customer service and certificate needs and requests.