You may require a type of coverage now that wasn’t necessary when the company first began. Growing businesses typically find they need to adjust their insurance coverages as they evolve and expand.
CHANGES IN OWNERSHIP STRUCTURE – Have you moved from a sole proprietorship to a different business structure? Have you added new management or officers?
ADD NEW BUSINESS PRODUCTS OR SERVICES – Will your current policy provide sufficient risk protection for your new venture?
CHANGES IN CONTRACTUAL OBLIGATIONS – Are you required to enter into new contracts with clients or suppliers?
GROWING STAFF – When a company grows in size, staff often has to be hired to accommodate demand. Do you need Workers Compensation Insurance? Do you need to increase your payroll on your current policy to avoid a large audit at the end of the year on your Workers Compensation or General Liability policies?
CHANGES IN PROPERTY EXPOSURES – Have you recently bought or sold business property? Have you made significant improvements to your offices or purchased new equipment?
Should you have any major changes in your business anytime during your policy term, we recommend that you contact your insurance agent or company or contact Rue Insurance at 800-272-4RUE to discuss those changes.
