Current events across the globe have resulted in many businesses taking a closer look at their insurance policies to decipher what events would be covered.
The answer is not always clear because different policies respond in different ways. Businesses and their insurance brokers are left to select policies they believe will provide the broadest coverage at the most economical price.
Planning for the next malicious act
One of the biggest challenges businesses face today is planning for the next malicious act. Perpetrators continue to change their tactics, making it virtually impossible to contemplate and plan for risk mitigation in all malicious act scenarios. We have seen attacks carried out with bombs, guns, knives and most recently a 19-ton truck. These malicious acts instill fear in the public and also result in severe financial consequences for the businesses affected.
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