Straight From The Source Blog by Higginbotham Insurance

Consultants provide valuable services in many areas – from marketing and business to finance, real estate and beyond. However, providing advice and expertise involves some risks. For example, if a consultant’s advice results in a client’s financial loss, the consultant can be sued. The right insurance products can help minimize the exposures. Here’s a look at the insurance types that consultants need.

Higginbotham is not a law firm, and this article is not meant to provide legal advice.

If your business gets hit with a claim, the insurance company will cover the claim – right? It sounds like it should be simple, but when there’s a long gap between the incident and the claim, things can get complicated.

So you want to start your own business.

With access to a company’s balance sheet, net working capital can be calculated simply by subtracting current liabilities from current assets.

If your business is based on products, rather than services, you need to know how to set up a warehouse. If you are a reseller, your success depends on a ready supply of the items you offer so that customer orders are fulfilled promptly.

If you have a vacant commercial property, you need vacant property insurance. Unoccupied and vacant properties are subject to many of the same risks that occupied properties are subject to. Vacant and unoccupied properties may also be vulnerable to additional risks. Maintaining the proper property insurance for unoccupied commercial properties is essential.

What is a Values Statement?

Values statements, or value statements, are the core, guiding principles of an organization; they define what a company believes in and how people in the organization are expected to behave—with each other, customers, vendors and other stakeholders.

It’s easy to plan for good times. When everything goes as it should, you can focus on growing your business and meeting your corporate objectives. But what happens when things don’t go as planned? Maintaining business continuity through disruptions takes careful planning.