Risk isn’t something that your business might not consider as a problem, but then again, ignorance is bliss. Although a business might be small the risks are larger. Anything from a dishonest employee to a stolen computer, could easily threaten the business.
One benefit of working with Newman Crane is we have a CNA as a carrier. As a policyholder with CNA, you will have access to industry-leading risk control services. This value-added resource can help your small business protect your customers, employees and your bottom line.
Impact of a Loss
Some of the most common loss drivers for small businesses relate to:
• Property — such as storm damage or theft
• Liability — such as contractual or professional
• Workers’ Compensation
• Motor Vehicles
Recovering financially from losses like these may take longer than anticipated. The table below shows how much in additional sales a company might potentially need to generate to cover a loss.
Estimated Sales Projections Required to Cover a Loss
|Dollar Loss||1% Profit Margin||2% Profit Margin||5% Profit Margin|
|$25,000||$2.5 million||$1.25 million||$500,000|
|$50,000||$5 million||$2.5 million||$1 million|
|$100,000||$10 million||$5 million||$2 million|
From Workers Comp to General Liability Newman Crane works closely with both small and large businesses throughout FL. We understand running a successful FL small business requires patience, perseverance and an incredible amount of planning. Get in touch with Newman Crane and let us help you identify any potential risks. Call us today (877) 874-4673