Fraud takes many shapes and forms, among them corporate fraud, consumer fraud, tax fraud, identity theft, and many others. According to ACFE (Association of Certified Fraud Examiners), organizations worldwide lose an estimated 5 percent of their annual revenues to fraud, costing the world $3.7 trillion each year.
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In the course of doing business, you may sometimes find yourself entering into contracts requiring that your business be named as an additional insured on another party's insurance policies.
 
This is often done to protect your business from losses for which you may be legally liable as a result of the business relationship you have with the other party, but that are not due to your own business's direct negligence.
 
An additional insured is defined as an individual or entity that not automatically included as an insured under the policy of another, but for whom the named insured's policy provides a certain degree of protection.
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When stores lease real estate spaces or construction firms win jobs, the party on the other end usually has a particular set of requirements.
 
One of the requirements is that the tenant, contractor, or borrower show proof that he or she has adequate insurance.
 
Copies of insurance documents may be sufficient. But, not all companies want copies sitting around. A suitable substitute for document copies is a certificate of insurance. 
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Business owners who form a corporation or a limited liability company (LLC) may question the need for the business to carry insurance. A significant benefit of these forms of business organization is that they shield the owners' personal assets. Because of this, they may believe insurance is unnecessary.
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Vehicle crash statistics are startling. A vehicle crash occurs every five seconds, someone is injured in a vehicle crash every 10 seconds, and someone dies in a car crash every 12 minutes. 

​Social media has grown by leaps and bounds over the past decade. What many people don't understand are the unique risks that come along with social networking.

Anyone using Facebook, Instagram, Twitter, LinkedIn or any other social networking site should exercise extreme caution in what they decide to say online.

​In the business world, barely a week goes by without a major cyber incident happening. To help guide businesses toward cyber preparedness, Hiscox has come out with its 2019 Cyber Readiness Report.

This year’s report shows that of the companies surveyed, most experienced one or more cyber attack in the past year. The cost and frequency of these attacks have increased significantly, as well as the risks involved for small and medium sized companies.

​Many businesses that produce some type of pollutant throughout the course of daily operations don't know they are doing so.

Those businesses that know they are producing pollutants have processes and safeguards in place to reduce their release into the environment. However, it’s important to understand that a business can be held liable for some very costly damages when these byproducts pollute another property or harm another individual.

Pollution liability clauses were once part of general liability policies, but the extensive asbestos problems in the 1970s spurred most insurers to remove pollution protection from their general liability policies.

​People often worry about fires damaging their homes and commercial buildings. While fires are dangerous and can cause extensive damage to property, they are rare compared to another element that is in the home or building every minute of every day: Water. 

Properties suffer water damage more frequently than they do other causes of loss. Water damage emergencies occur 14,000 times a day in American homes and businesses, according to insurance industry data.

​In October and November of 2011, floods inundated large parts of central Thailand, including thousands of factories that made everything from automotive parts and hard disk drives to eyeglass lenses and air conditioners. In addition to the human and economic cost in Thailand, the disaster affected businesses around the world.

Carmakers in Detroit shut down because they could not get the parts they needed and half of the world's hard disk drive production was wiped out, leaving computer manufacturers with stalled assembly lines. When disasters like this occur, businesses around the globe feel the effects. 

In addition to making advance arrangements for alternative suppliers, businesses can protect themselves by purchasing two types of insurance coverage: Contingent business interruption, and supply chain insurance.