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Tips to protect your business

Reduce your risk

Your business is your heart and soul. As you grow and improve your operation, you should think about the best protection for surprises you can’t control. A business faces many risks that may keep you from reaching your goals. Competition, the economy, legal exposure, compliance requirements and weather catastrophes can impact your company in addition to your operational risks.

As you determine how to best protect your business, consider the following tips:


Work to understand the risks you may face in your specific industry for property, business equipment, liability and your staff. Once you understand your danger areas, you can make informed decisions about mitigating them and protecting your growing business.


Develop plans to avoid risk, including strategies for improving safety, reducing waste, fortifying your property and purchasing good insurance that will protect you from exposures you can’t avoid. You also may decide to retain some of the risk through the use of higher deductibles or self-insurance. Be sure you have a fund set aside to cover the higher deductibles.


By avoiding excessive claims and continuing to implement stronger risk management strategies, your business will benefit from being more attractive to the insurance industry as they invest in you. This leads to more options on your coverages and lower rates. Most insurance carriers also will provide inspection and risk-assessment services that will keep you better protected. Some insurance increases are inevitable due to the global nature of the pricing, but by keeping your business the best it can be, you always will benefit from the best available pricing.


As you grow your business, your risk exposure changes. You may have increased assets, inventory and staff. Be sure to adjust your risk management plan and your insurance coverages accordingly. Always look to the future, and plan your exit strategy with a solid perpetuation plan, ensuring all of your hard work won’t be lost when you’re ready to retire.

Angelyn Treutel Zeringue is President of SouthGroup Insurance Services, a CPA, PWCAM, CBIA, and licensed Trusted Choice Insurance Agent. Reach Angelyn at, (228) 385-1177, or

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