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The upside of having corporate insurance

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When it comes to preparing for the worst possible thing that can happen to your corporate enterprise, Michael Saltzstein attests to the importance of having corporate insurance. Below explores some of its upsides.

1. Defense against lawsuits

Don’t be too complacent and think that nobody will sue you, even when you know in your heart that you have not done anything wrong in your practice. The experts always consider reality as a litigious society. One disgruntled employee, one unhappy customer, or one small contractual error is all it takes for a lawsuit to be filed against you. Be humble enough to accept that you do not know everything, and be smart about preparing for unfortunate circumstances, suggests Michael Saltzstein.

2. Business credibility

Having corporate insurance offers you protection from so many things. Also, news of your company having corporate insurance increases your overall credibility. Such an image makes you stand out as a trustworthy part of the community, which opens many doors for you and your people. You may even be offered special credit by financial institutions who believe in your capabilities to succeed.

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3. Protection for employees

If you make peace with the fact that not everything will turn out positively for you all the time, you are also quite willing to accept that external forces are beyond your control. With a corporate insurance plan, you can depend on a guaranteed solution when misfortunes strike hard. The best example of this is the COVID-19 pandemic, which saw many businesses shut down, forcing their employees to grope in the dark for their livelihood. The insured companies continued to provide for their employees’ needs many months into the pandemic.

Michael Saltzstein is a collaborative and adaptable team leader who is organizationally agile, pragmatic, excellence focused, action-oriented, and results-driven. For more about his work, visit this page.

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