Given the challenging current climate in the midst of a global pandemic, one silver lining is that many businesses learned to innovate and evolve quickly to do more business online when they were unable to operate their bricks and mortar business as usual. You’ve probably discovered that operating a business online can be cost effective and flexible, with fewer overheads and greater geographic reach. Whether you’re new to doing business digitally or you’re an old hand, you know there is a never ending list of things to think about, from your supply chain and logistics to your digital marketing and technology solutions.
As with any change in your business, it’s important to make sure your insurance broker is aware so they can make sure you’ve got the right insurance solution in place and that you’re aware of any new risks. One of the common scenarios we’ve seen over recent months is that while the business is still in the same industry, the actual business activities and services have changed. For example, hair salons or professional photographers who typically would have been providing an on site, hands on service, might now be offering educational sessions online or providing ‘how to’ seminars. This can be considered providing advice and therefore depending on your circumstance we might talk to you about professional indemnity insurance.
We’re part of the Community Broker Network, and they’ve prepared a helpful insurance checklist specifically for online businesses. Click here to read the full list, but at a high level it includes: