Small business risk snapshot
What keeps small business owners up at night? There's a growing list of concerns and complex risks that small business owners face. The Small Business Risk Report recently published by Forbes Insights and The Hanover reveals that while small business owners recognize these risks, most say they are not spending enough time focused on how to protect their business and assets.
Through local independent agents, The Hanover offers tailored insurance solutions for all types of small businesses. Read our Small Business Risk Report to learn more about coverages small businesses may want to consider.
This material is provided for informational purposes only and does not purport to address every possibly legal obligation, hazard, code violation, loss potential or exception to good practice.
Related resources
Small business risk snapshot
What keeps small business owners up at night? There's a growing list of concerns and complex risks that small business owners face. The Small Business Risk Report recently published by Forbes Insights and The Hanover reveals that while small business owners recognize these risks, most say they are not spending enough time focused on how to protect their business and assets.
Through local independent agents, The Hanover offers tailored insurance solutions for all types of small businesses. Read our Small Business Risk Report to learn more about coverages small businesses may want to consider.
This material is provided for informational purposes only and does not purport to address every possibly legal obligation, hazard, code violation, loss potential or exception to good practice.
Related resources
Small business risk snapshot
What keeps small business owners up at night? There's a growing list of concerns and complex risks that small business owners face. The Small Business Risk Report recently published by Forbes Insights and The Hanover reveals that while small business owners recognize these risks, most say they are not spending enough time focused on how to protect their business and assets.
Through local independent agents, The Hanover offers tailored insurance solutions for all types of small businesses. Read our Small Business Risk Report to learn more about coverages small businesses may want to consider.
This material is provided for informational purposes only and does not purport to address every possibly legal obligation, hazard, code violation, loss potential or exception to good practice.
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Small business insurance risk snapshot
What keeps small business owners up at night?
Approximately 1 in 3 small business owners believe they spend enough time focused on insurance protection and are confident they have the right coverage.
80% of small businesses recognize they are exposed to risk in multiple areas.
94% of small businesses face cyber security risk. Yet only 20% are confident they are adequately insured.
Only 57% have reviewed their insurance coverage in the last year.
82% of small businesses agree coverage is more important than price when purchasing insurance.
21% of small businesses report that they fully leverage recommendations from outside experts such as independent agents about risk and coverages.
Top three vulnerabilities and insurance coverages small business owners should consider:
Vulnerability Coverage Data breaches and cyber attacks Data breach coverage and cyber liability Fraud Crime coverage including commercial crime, third party off premises, and false pretenses Natural disasters Property coverage with adequate coverage limits including extended business income and extra expense 72% of small businesses are exposed to employee-related risks. Yet only 31% are confident that they're adequately insured against allegations of workplace discrimination, wrongful discharge or harassment.
Related resources
Small business risk snapshot
What keeps small business owners up at night? There's a growing list of concerns and complex risks that small business owners face. The Small Business Risk Report recently published by Forbes Insights and The Hanover reveals that while small business owners recognize these risks, most say they are not spending enough time focused on how to protect their business and assets.
Through local independent agents, The Hanover offers tailored insurance solutions for all types of small businesses. Read our Small Business Risk Report to learn more about coverages small businesses may want to consider.
This material is provided for informational purposes only and does not purport to address every possibly legal obligation, hazard, code violation, loss potential or exception to good practice.