As technology changes, insurance policies must keep pace

In this digital age of smartphones and tablet computers, individuals are always excited to have the latest and greatest mobile device. No one wants to be left behind when it comes to technology. Many small and medium-sized businesses are beginning to implement new systems into their daily operations, keeping the organization as current as possible. However, business insurance policies can easily be overlooked.

If you take care to have the most recent cell phone, why would you not have the same forethought when it comes to keeping your company safe?

This blog has mentioned on several occasions how devastating Hurricane Sandy was to parts of the United States, particularly the East Coast. Insurance agent Michael McMahon, though, explained to Property Casualty 360 that his company worked hard to keep disaster preparedness plans current.

"In the week leading up to Sandy, we purchased a couple mobile hotspots so we would be able to access our [Applied Systems] Epic system if our Internet connection was down," he said. "We had generators ready to go so if we didn't have power we could still run our computers and wireless hotspots."

While McMahon's business was able to remotely access client records and assist customers with numerous mobile devices, having a general property insurance policy should not be overlooked.

U.S. damages from Sandy were estimated to be $15.6 billion with 56 deaths, according to Property Casualty. A business might be able to maintain operations during severe weather, but what happens afterward? Without the necessary commercial property insurance policy, the recovery process could be long and expensive.

Working with commercial insurance specialists is well-advised for any small to medium-sized business owner. That way, company leaders can rest assured that their policies are current and provide coverage for everything from daily operations to unforeseen severe weather.

 

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