Small business owners are more likely to trust insurance coverage if past claims experiences have been positive, according to a collaborative report from Forbes Insights and Forbes Insights . the 2019 Small Business Risk Report showed that 67% of those surveyed had experienced bad claims handling from their carriers, which impacted their confidence in coverage. In comparison, of those that had good experiences, 67% said they felt confident with their carriers. More than half of respondents believe it is likely that their business will have a claim within the next five years, with the top three claims concerns being property damage, employee injuries and auto accidents. The study also showed 36% of business owners had growing concerns about their cyber liability and vulnerability to data breaches as they digitised business.
Small business owners are more likely to trust insurance coverage if past claims experiences have been positive, according to a collaborative report from Forbes Insights and Forbes Insights . the 2019 Small Business Risk Report showed that 67% of those surveyed had experienced bad claims handling from their carriers, which impacted their confidence in coverage. In comparison, of those that had good experiences, 67% said they felt confident with their carriers. The study also showed 36% of business owners had growing concerns about their cyber liability and vulnerability to data breaches as they digitised business.