Outdoor Recreation Insurance Company Outdoor Insurance Group Shares Risk Management Advice From The SBA

For managing business risks, Outdoor Insurance Group provides outdoor recreation insurance and outdoor adventure insurance to outdoor outfits offering fishing, hunting, camping, off roading, water sports, trail sports, motor cycling, wheel sports, snow sports, and more across the country.

But don’t just take it from us. The Small Business Administration recommends adopting a variety of risk management strategies to avert catastrophe and provide you with the best possible protection.

BarbaraWeltman, SBA Guest Blogger, discusses choice of entity, contracts and agreements, disaster preparedness, best business practices, and most importantly, business insurance plans at https://www.sba.gov/blogs/5-best-risk-management-strategies?utm_medium=email&utm_source=govdelivery.

Here’s what she says about the importance of insurance. “Carrying adequate insurance coverage can go a long way in protecting you from property losses as well as liability claims. Consider the following types of policies for optimum protection”:

  • Business owners policy (BOP). This policy for small businesses provides protection for your property (except for excluded events and amounts over the policy limit) as well as liability protection for claims by third parties (e.g., a customer slips and falls on your premises). The policy may also cover employee theft and other occurrences.
  • Professional liability coverage. This policy protects professionals from client claims of mistakes (malpractice), negligence, or unfinished work.
  • Business interruption policy. This policy provides funds to cover your fixed costs (and possibly loss of profits) following an event that shuts you down (e.g., a hurricane).
  • Workers’ compensation insurance. This protects the business for claims when employees have a job-related injury or illness.
  • Employer practices liability insurance (EPLI). This covers you for claims by employees and former employees for such actions as discrimination and wrongful termination.

Insurance expertise coupled with intimate knowledge of all adventure sporting activities enables Outdoor Insurance Group to design individual plans for each customer, taking into account their unique business needs and potential for risk. If you’re an outfitter or guide looking to purchase, renew, or update an outdoor adventure insurance or outdoor recreation insurance plan we invite you to call today for a free consultation (888) 683-7808. Our goal is to get you the most out of your insurance policy with the most cost effective plan.