Thursday, September 22, 2016

An Absolutely 100% Non-Boring Article About Business Insurance

From Bplans

Almost every business has some form of insurance to protect it from fires, lawsuits, and vandalism—things that are 100 percent not boring.

In fact, the first business insurance policies came from Lloyd’s of London, which used to be a coffee shop where sailors and merchants gathered.

It was a perfect storm: Lloyd’s picked up on how dangerous sailing was and that merchants wanted insurance in case their sailors were thrown overboard, goods were lost at seas, or pirates did pirate-y things. This little coffee shop starting selling marine insurance and soon enough, it became the nexus of the insurance world. Three hundred years later, it still is.

If you’re a small-business owner, chances are you don’t need pirate insurance. If you do, heaven help you. For most business owners, there are four non-pirate kinds of insurance that cover most major exposures.

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