Michael Saltzstein – What Should Companies Know About Corporate Insurance Policies

Michael Saltzstein – What Should Companies Know About Corporate Insurance Policies

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Corporate insurance refers to a policy that companies take out to cover certain operational risks. It protects their owners from certain financial losses that they are likely to incur from unforeseen events. These include accidents, employee embezzlement, third-party lawsuits, vandalism, business interruption, and their obligations towards workers’ compensation. In the absence of this kind of insurance, owners end up spending a lot of money. Only then can they offset these liabilities without ruining their reputation in the market. Unfortunately, they often jeopardize the financial stability of their businesses when they fail to give importance to the above. In the worst-case scenario, they ultimately have to file an application for bankruptcy in courts.

Michael Saltzstein – Are corporate insurance policies a necessity for companies of all sizes?

Michael Saltzstein is a popular business leader from America who specializes in corporate insurance and implementing corporate risk management policies. He also has a wealth of knowledge and years of invaluable experience in other important areas relating to the above fields. These include actuarial studies, crisis management, coverage evaluation, loss control, deductible analysis, growth strategies, and occupational safety. His clients regard him as the brainchild behind successfully devising and implementing million-dollar cost reduction schemes for their business. As a result, these companies have been able to significantly increase their after-tax revenues and profits with his advice.

When it comes to corporate insurance policies, companies need to understand that they can fall under four different categories. These include product liability, group health, property damage, business disruption, professional libel, and workers’ compensation. Yet, all corporate insurance policies have the following common features:

  1. Companies can expect complete lawsuit protection under these insurance policies even in cases of unintentional negligence;
  2. The insurance companies the corporate enterprises work with are responsible for appointing a lawyer to represent them;
  3. Corporate insurance policies falling under group health category cover losses companies incur from fatal employee accidents; and
  4. These business insurance policies do not cover losses companies incur due to sudden changes in government policies.

Advantages of corporate insurance policies

He further states companies enjoy the following five benefits when they buy corporate insurance policies;

  • Reliable businesses prefer to enter into lucrative contracts with companies who have viable corporate insurance policies;
  • The insurance policies protect companies from probable loss of future income from events beyond their control;
  • Prospective hardworking candidates are willing to work for companies with corporate insurance policies covering general health;
  • Corporate insurance policies deter unscrupulous employees from committing frauds, embezzlements and misappropriating money; and
  • Potential stakeholders and the general public perceive companies with valid corporate insurance policies as trustworthy.

In the opinion of Michael Saltzstein, companies can protect their financial interests by taking out suitable corporate insurance policies. These businesses get adequate protection against probable property damage, unforeseen employee accidents, embezzlements, and third-party libel. The general public, prospective candidates, and stakeholders even regard the companies to be reliable. In many cases, such corporate enterprises are able to sign lucrative contracts with similar businesses. This boosts the companies’ bottom-line revenues and profits over time with success!

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