IT WILL NEVER HAPPEN TO ME!
Many businesses do not believe that a loss will ever happen to them. This really is a “pig’s tail”. The reality is that losses like the ones used in the case studies on this site, occur every day to businesses just like yours. But do not believe us, look at the research.
- Every year 1 in 500 businesses will experience a severe disaster (McGladrey and Pullen)
- 43% of businesses that experiencing disasters never re-open and 29% close within 2 years. (McGladrey and Pullen)
Business interruption insurance is an inexpensive way to protect your businesses income and your lifestyle. To assist, insurers such as CGU Insurance and Zurich have both recently reduced their premium rates for business interruption insurance.
Dr Manning’s book, It Will Never Happen to Me! Is available here.
Zurich’s Sarah Bright talks with Dr Allan Manning of LMI Group, leading Australian authority on loss management and risk assessment, on the impact of underinsurance on small business and why everyone thinks it won’t happen to them.
Related Articles: Australian small business: under-covered and under-insured