Uninsurable Risk?

Common uninsurable risks include reputational, regulatory, political, war and pandemic risk. Generally, these risks fall into four broad buckets.

First, the potential loss is catastrophic, meaning it is extremely rare (such as a war or pandemic), but should it occur, extraordinary losses could result.

Second, the potential loss is commercially uninsurable, meaning it is illegal to insure. If an insurance company is in a jurisdiction in which cannabis is illegal, for example, it may not insure a cannabis business.

Third, the potential loss is an uncommon loss. If there are a handful of people with unusual risks in an insurance pool, all other policyholders would be paying more to protect against an unlikely loss, so insurance companies exclude these types of losses or create a separate product specifically for them.

Lastly, the potential loss is the result of damage that is either natural or cumulative. These are losses that are so predictable they naturally do not fall under insurance protection. Some examples include natural spoilage of food, wear on equipment or discoloration of apparel in a store display.

Insurance is meant to protect you from unknown losses, but some losses could be uninsurable. Call or email us today to see how we can support you in finding the best policy that covers your potential losses.

Many companies pride themselves on the kindness they show to their customers, but can the same be said for those working for the business?

If a company is to be sustainable, successful and trustworthy to the consumer, it is essential that the answer is yes.

Good people and good employees are attracted to a workplace that is kind and caring. Attracting those good employees gives an organization the best chance of being a success. And the more successful and kinder an organization is, the more a customer will want to give them their business.

This isn’t whimsical or a utopian view; it’s a proven fact within business that corporations’ success is often swayed by the happiness of its employees, both on a productivity level and in how they are perceived by the consumer.

Take the recent high-profile case of The Ellen DeGeneres Show, which found huge global success for its host’s reputation as being “relentlessly kind,” only for it to fall spectacularly from grace after reports of a toxic, wholly unkind working culture behind the scenes went public, leading to the announcement that the show will end after the 2021-2022 season.

Kindness is a gentle, infectious wave that grows and spreads outward, starting with the smallest random acts.

We spend, on average, two-thirds of our adult lives in the workplace, so why should we spend that time enduring or creating an environment that in the long run is good for no one?

A revolution of kindness at work will benefit every employee, boss, customer and human.