Category Archives: Minimizing Your Business Risk

5 Important Questions for SMBs Regarding Cyber Liability & Data Breach

cyber-securityCyber criminals do not discriminate and often target small entities. In fact, “31% of all breaches in 2012 occurred at organizations with 100 or fewer employees,”1  spanning across diverse industries including finance, retail, manufacturing, technology, government, and more.

While some business owners may understand the dangers of  hackers infiltrating their network and stealing private information (i.e. credit card/checking account numbers), most believe their IT systems are secure with passwords and firewalls. Moreover, most seem comfortable that even if their network were penetrated, a privacy breach is covered under their existing business insurance. Unfortunately, that’s not the case at all.

Here are some questions that SMB owners should be asking about their coverage in today’s tech-heavy world:

1. “I have a general liability policy, doesn’t it cover me against cybercrime?”

No. The property policy protects the computers but not the data that is stored on them. The general liability policy specifically excludes claims of copyright, trademark and trade secret infringement. Although there have been limited instances of coverage for privacy breach under Liability Policies, relying on this for coverage is not in your best interest.

Business Interruption coverage, an essential part of any businesses risk management plan, will not respond to outages caused by computer viruses or hackers. In addition, 47 U.S. states now have laws requiring notification in the event of a potential loss of PII (personally identifiable information), as well as fines and penalties for not reporting the breach. Many carriers offer policies that can cover regulatory fines or penalties incurred because of a data breach.

2. “How much does Breach Insurance cost?”

Cyber liability insurance is still a fairly new concept, so there’s a lot of variation among policies, and a lot of room for negotiation. We have seen policies starting as low as $995 for a small business and premium rises as the business gets larger.

3. “We have an IT department and we have firewalls. Isn’t that enough?”

Not usually. Many data breaches occur because of an employee error or an “inside job” from rogue employees. From passwords tacked on computer screens in plain sight and employees opening suspicious email and downloading malware to lost laptops and smart phones, a large portion of security breaches occur because of employee actions. Also, keep in mind that a data breach can occur from paper records and a properly written policy will provide protection for a breach of paper files. Outdated customer information, old credit card receipts and employee files that have been thrown into the Dumpster are just as vulnerable as if a hacker logged into your network.

4. “We use a third party vendors. Do we still need this coverage?”

Are you taking online reservations? Are you processing credit card payments online? Even if you utilizing a third-party vendor and your network is not storing the data, your customers’ personal information, in case of a data breach, is still your responsibility.

5. “What are the state’s privacy notification laws, fines and penalties?”

When it comes to the unauthorized release of personally identifiable information (PII), there is no federal mandate governing privacy notification, so each state has its own law, so you must be aware of your responsibility at the state level.

In California, for example, S.B. 24 requires the inclusion of certain content in data breach notifications including a description of the incident, the type of PII breached, the time of the breach, the toll-free numbers and the addresses of credit-reporting agencies. In addition, S.B. 24 requires the breached business to send an electronic copy of the notification to the California Attorney General if a single breach affects more than 500 residents. (California already requires notice to the Department of Public Health for breaches involving patient medical information).

1 [source: Travelers]

5 Things Small Businesses Need to Know About Healthcare Reform

Counting handsThe implementation of the Affordable Care Act is rapidly approaching and it is important that small businesses have a place to turn to for feedback, advice, and execution. Below are five points that we believe all business owners should take into consideration to help business owners increase their sales, reduce their costs and minimize their risks.

1. Exchanges are not necessarily the answer.

As discussed in our blog posted earlier in the week, Root Of All Evil Or The Holy Grail? Private Market Options In The Age of Obamacare  although the exchanges are opening, and do provide another way for you to purchase insurance, they are not necessarily the best way to go. The private market options can still hold a lot of value and it is best to look at the pricing, network size, and the administration costs of administering the plans to make sure that you are making the best decision.

2. Make sure your broker is appointed on the exchange.

Since the exchanges may be a viable option for some businesses and individuals, it is important to work with a broker. As a broker appointed on the state exchanges, we have the ability to present the private market options and exchange options while helping you decide which is best, as well as a game plan that you can execute. By choosing to go to the exchanges directly you assume a lot of responsibility, and risk making the wrong benefit choice for you and/or your employees.

3. U.S.E  your broker – Understand the coverage, Streamline the services, Execute your strategy.

We encourage business owners to USE our game plan to navigate health care reform.

Understand the coverage -It is key that you understand the plan that you purchase, and how it compares to the other plans in the marketplace. This is vital to understand the price and competitiveness of your plan. It is also important to understand how changes to your staff and health insuranceenrollment can impact your property and casualty policies.

Streamline your services – By streamlining your insurance program, you can more closely monitor your employee benefits to ensure proper compliance, while also cutting the cost. Employee addition and attrition can be administered with dedicated contacts from one company which saves you time and money. Also look at including payroll into the offering to make sure that you can more efficiently manage enrollment to worker’s compensation, health insurance and payroll while making sure that you are compliant with local and federal rules and regulations.

Execute your strategy – Your broker needs to be able to demonstrate the value in working with you and help you execute the goals. Laying out your game plan, and being able to follow through in this turbulent environment is key. If you goal is to improve the quality of your benefits, confirm how you want to do that affordably and sustainably. If your goal is to lower costs, how do you plan on doing that over the long term? Will you do it through cutting benefits, changing your plan structure, or instituting a wellness program? Execution is key, and without the right partner you won’t be able to do it successfully.

4. Ensure you are compliant.

Compliance is key as we look at healthcare reform. By offering health plans that are not compliant, improperly notifying employees of healthcare options, or not following any one of the dozens of other reforms, compliance is key. You can subject yourself to substantial fines or penalties, even potential lawsuits from employees if you do not stay in compliance. Make sure you broker and payroll company provides you with the tools to notify you of deadlines, get free resources, and stay compliant at a reasonable cost

5. Analyze your full insurance program.

While you are looking at managing your compliance, you and your broker need to look at your full insurance program and see how they work with one another. Employees on your health insurance should match the employees and payroll on your package policy, and your worker’s compensation. Your contact information on all policies should be checked to make sure they are consistent. Furthermore, you take inventory of policies and coverages to make sure you understand what insurance coverages you have in place, where you are deficient of coverage, and how you can continue to protect your business.

Managing the Healthcare Reform Act

moneystethoscope-1-e1364393455404Under the PPAHCA, small businesses with 50 or more employees are mandated to buy health insurance for their employees or pay a fine, or tax according to Justice Roberts. (Update: the ACA has been amended to extend the deadline for the employers of 50+ requirement until 2015).

In addition, many small businesses will be eligible for tax credits under the PPAHCA, as well as taking under consideration managing full-time and part-time staff to meet or beat the 50 employee threshold. Will small business owners hire advisers and consultants to get them through this knothole? Will they try to read and understand the 2000+ page piece of legislation themselves? Healthcare expenditures are approaching 20% of GDP, thus spiraling healthcare costs is a significant concern for small business owners.

Directors and Officers Insurance a MUST!

26243535_fullDid you know that directors of public or private companies can be held liable for their decisions? Sure, anything is possible one might think, but statistics show this reality is far more pervasive than one might expect. In fact, more than 39% of private companies (with more than 25 employees) had a D&O (Directors & Officers) suit filed against them in the last five years.

Does that seem exorbitant?

Well, when one considers who is doing the suing, it seems more understandable. D&O suits are brought by employees, shareholders, investors, competitors, suppliers, customers, and lenders. This is not to say that every lawsuit is a victory for those who bring them, but whether a company successfully defends itself (or its directors and officers) or not, such suits bring and average cost of 310K. That could be devastating to a small company.

So what can be done to avoid such an atrocity? Well, other than perfect leaders beloved by all, a good D&O insurance policy comes highly recommended. Such policies provide financial protection to Company leaders in the event they are sued regarding their performance or duties with the company. In many cases, a D&O policy is the only line of defense for these types of suits or claims.

There are some policies that bundle Fiduciary and/or Employment Practices Liability which can be a huge difference maker. Employment practices amount to about half of all claims, particularly in a strained economy where layoffs and downsizing become more prevalent. The policy will serve as a strategic line of defense whether or not allegations are warranted.

So you think a good D&O policy is worth considering but you’re not sure where to start? Here is a list of important criteria:

  • A policy that will cover the company as well as the individual directors and officers.
  • Punitive damage coverage
  • Good record with D&O claims that may be provided with your query
  • HR consultation program
  • Separate EPLI and Management Liability Limits
  • Affordability – it has to fit company budget

Most insurance providers that meet the points above are likely qualified to help, but if you want to speak directly with an expert, call 1-855-284-3722 or email to have someone reach you.

Obamacare Employer Mandate Delayed Until 2015

news-delayed-1211pgOur recent blogs and Small Business Authority Market Sentiment Survey have depicted a sense of uncertainty and lack of clarity amongst business owners as to what to do to prepare for the PPAHCA. This uncertainty has continued to exist with a persistent stubbornness. The administration, in its wisdom, has delayed a key provision in ObamaCare, the “Employer Mandate.” Allbusinesses with over 50 employees must provide health insurance to their staff  or face fines up to $3,000 per employee.

The consumer mandate, which Chief Justice Roberts refers to as a tax, is not delaying its start date of 2015, so individuals not covered under an employer plan must obtain health coverage or face fines beginning in 2014. This announcement came yesterday from the Treasury Department, right before the July 4th holiday is to begin for many businesses and Americans.

Our clients, small independent business owners, could argue the merits of the PPACA ad nauseum, but could not really argue the concern over the rush to implement it quickly. As Nancy Pelosi once said, you have to “pass the act to know what’s in it.” This message and confusion has created great pushback by taxpayers, citizens and even government administrators, who know that this 2000+ page act requires a huge cost and administrative burden to implement and manage. Rules are being perpetually rewritten and updated and a January 2014 start date for employers was just unrealistic.

Now, with the consumer mandate still out there, does this shift an economic burden to uninsured workers or consumers for a year? Or just expand our deficit further? Both? Probably both.

The benefits of ObamaCare, such as insuring all, even those with pre-existing conditions, still are on track for January of 2014. Exchanges are planning on being launched on or before January 2015. Most of the act, so far, is in motion. Our clientele still fears government becoming larger in many areas, including healthcare. Our clientele still fears an ever-expanding deficit. Our clientele is also happy that this provision is getting delayed so that they will have more time to plan and make wiser choices given the new uncertainty and changes being brought in by the act.

Newtek Lending a Hand in Sandy Recovery

At Newtek, The Small Business Authority, we just announced several special programs to help small businesses devastated by Hurricane Sandy. Newtek Chairman and CEO Barry Sloane says, “We are here to help small businesses and even moreso, any individuals affected by Hurricane Sandy’s devastation. Newtek, “The Small Business Authority” helps independent business owners in good times and bad, both our clients as well as others. We are a business located in both Manhattan and Long Island and clearly understand the problems these local businesses face. We are here every day, around-the-clock to help with all major causes of concern for small businesses.”

Mr. Sloane offers, “All it takes is a phone call to the 1-855-2-THESBA phone line for help with:

* SBA Disaster Loan Funding

Examining Insurance Policies for wind, flood, and business interruption coverage.

Data Back-up Planning

Cloud Computing Solutions for immediate cost-savings and future disaster protection.

Additionally, it is important to know that The United States has declared several states (and many counties within them) Federal disaster areas. These include areas within Connecticut, Delaware, District of Columbia, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Virginia, and West Virginia.

Newtek understands both individuals as well as small business leaders have myriad assistance questions. Answers may be found at FEMA, U.S. Department of Homeland Security’s Website. Assistance can include grants for temporary housing, home repairs, and other programs to help individuals and business owners recover from the Hurricane Sandy disaster. Moreover, this site also provides helpful programs for medical and other serious disaster-related needs not covered by insurance.

U.S. Small Business Administration (SBA) Disaster Loans are available for businesses located in affected counties and States which include loans up to $2MM for certain property losses and/or fiscal damage.

Business owners’ first step should be to register the affected business by calling 1-800-621-FEMA(3362) or by Internet at

Remember that you can call any time, 24/7/365 at 1-855-2-THESBA or, visit us online at


Is Workplace Drug Testing Really the Best Thing for Your Business?

Is Workplace Drug Testing Really the Best Thing for Your Business?

Is Workplace Drug Testing Really the Best Thing for Your Business?

Personal accountability is especially important in a small business to meet deadlines, satisfy clients, control budgets, and produce positive results. With fewer employees to run day-to-day operations, small-business owners rely even more on individual contributions than do larger corporations.

A small-business owner has two choices to ensure his company employs personally accountable and law-abiding individuals: (1) a system based on trust, or (2) a system based on test results.

Surprisingly, however, a system based on trust yields higher productivity and employee morale than one based on testing. Take, for example, drug testing in the workplace.

More than half of employers in the United States (57 percent) still conduct drug tests on job candidates, and many employers (36 percent) continue to conduct periodic drug tests on current employees, according to 2011 research by the Society for Human Resource Management1.

Because drug testing costs as much as $50 per candidate, small-business owners (99 or fewer employees) are less likely to conduct drug tests (39 percent) compared with owners of businesses employing 2,500 or more employees (71 percent), according to the same research.

However, in a study of 63 high-tech firms in the computer-equipment and data-processing industry, drug testing was found to reduce rather than enhance productivity, according to a report by the ACLU2. Firms with pre-employment drug testing scored 16 percent lower on productivity measures than firms with no drug testing in the workplace at all, according to the ACLU report.

Here are three more reasons to reconsider drug testing in the workplace:

  • Drug testing is expensive. According to an ACLU study, the federal government spent $11.7 million to find 153 drug users among almost 29,000 employees tested in 1990 – a cost of $77,000 per positive test2.
  • Drug testing is not completely accurate, as it is not a pure science. There is a chance that an employee will receive a false positive. This unfairly destroys the rapport between an employee – falsely accused of using drugs – and an employer – forever biased by the inaccurate results.
  • Drug testing does not catch drug users. Drug testing, especially when conducted exclusively during the hiring stages, doesn’t guarantee that you’ll identify a drug user.

“The vast majority [of workers who use drugs] undergo examinations only when they apply for a job, and they can pass by abstaining from drugs for a reasonable period before the test – or by using a variety of masking agents or devices that make their urine seem clean,” Reynolds Holding wrote for Time3.

If you want to improve productivity and decrease absenteeism in your workplace, you have other methods available for encouraging personal accountability at your company, including:

  • Encourage participation in substance abuse programs. Medical insurance often covers counseling and substance abuse programs. If you suspect that an employee has a problem with drugs or alcohol, promote a substance abuse program at the office. Small businesses are more like families. As such, raising awareness for insurance-covered counseling kindly allows employees to address issues confidentially and quietly, and it shows that your company supports healthy recovery and doesn’t just issue reprimands.
  • Conduct comprehensive reference checks. Instead of testing candidates for drugs, try conducting more comprehensive reference checks on your employees. Ask for three professional and three personal references.
  • Prepare a list of questions in advance that ask previous employers and personal references to honestly evaluate a candidate’s sense of personal accountability. (Of course, check with a lawyer ahead of time to ensure that you’re not violating any workplace discrimination laws.) Reference checks done correctly will identify more areas for potential problems or conflict than will a drug test.
  • Hire outside consultants to improve workplace efficiency. If there is a decrease in productivity at your business, it may have nothing to do with your employees at all. Hire an outside consultant to analyze your operations and bookkeeping.

Implementing more efficient workplace systems may be just what your business needs – as opposed to promoting a culture of mistrust – to increase morale, efficiency, and company profits.

For more information, visit:

1. Society for Human Resource Management: “SHRM Poll: Drug Testing Efficacy

2. American Civil Liberties Union: “Drug Testing: A Bad Investment

3. Time: “Whatever Happened to Drug Testing?”

Business Owners Need Protection

The Small Business Authority

Two major forms of insurance for businesses are Directors & Officers (D&O) insurance and Professional Liability (Errors & Omissions) insurance. Both types of policies protect businesses and business owners but in different capacities.
1. D&O insurance applies to the directors and officers of public companies who can be held liable for their decisions. Lawsuits may come from a number of sources, including: employees, shareholders, investors, competitors, suppliers, customers, and lenders. D&O policies provide directors and officers of a company financial protection if they are sued in conjunction with the performance of their duties with the company. D&O claims come in the form of alleged financial damage. As neither general liability nor professional liability policies provide such protection, a Directors and Officers Policy is the only back stop for this type of claim or suit.
D&O is available from a number of carriers, but we recommend you look for carriers/policies that that have the following.
A highly rated carrier with experience in D&O and a good record of claims handling.

  • Coverage for the entity and individual directors and officers
  • Coverage for punitive damages where insurable by law
  • A risk-management helpline (HR consultation)
  • Separate limits for management liability and EPLI
  • Reasonable rates and deductibles

2. E&O/Professional liability insurance is applicable to businesses that offer professional advice or render services. Clients may come forward with claims of negligence or claims that a company made an error or omission in a service it provided or failed to provide, for which the customers suffered a financial loss. E&O insurance protects professionals such as doctors, lawyers, dentists, and accountants as well as service providers such as consultants, home health-care providers, fitness trainers, beauticians, and many others. E&O insurance provides for defense and payment for these claims and helps companies avoid the full cost of potential lawsuits. For a small-business owner, professional liability insurance is extremely beneficial to consider and for many business classes can be combined with general liability, saving the business owner money and simplifying claims handling and billing.
This article originally appeared on

13 Types of Insurance a Small-Business Owner Should Have

13 Types of Insurance

1. General Liability Insurance: Every business, even if home-based, needs to have liability insurance. The policy provides both defense and damages if you, your employees, or your products or services cause or are alleged to have caused bodily injury or property damage to a third party.

2. Property Insurance: If you own your building or have business property, such as office equipment, computers, inventory, or tools, you should consider purchasing a policy that would protect you if you had a fire, vandalism, theft, smoke damage, etc. You may also want to consider business interruption/loss of earning insurance as part of the policy to protect your earnings if the business is unable to operate.

3. Business Owner’s Policy (BOP): A business owner’s policy package contains all required coverage a business owner would need. Often, a BOP includes business interruption insurance, property insurance, vehicle coverage, liability insurance, and crime insurance. Based on your company’s specific needs, you can alter what is included in a BOP. Typically, a business owner will save money by choosing a BOP because the bundle of services often costs less than the total cost of all the individual coverages.

4. Commercial Auto Insurance: Commercial auto insurance protects a company’s vehicles. You can protect vehicles that transport employees, products, or equipment. With commercial auto insurance, you can insure your work cars, SUVs, vans, and trucks from damage and collisions. If you do not have company vehicles but your employees drive their own cars on company business, you should have non-owned auto liability to protect the company in case the employees don’t have insurance or have inadequate coverage. Many times, the non-owned vehicles can be added to the BOP policy.

5. Workers’ Compensation: Workers’ compensation provides wage replacement and medical benefits to those who are injured while working. In exchange for these benefits, an employee gives up the right to sue his employer for the incident. As a business owner, it is very important to have workers’ compensation insurance, because it protects you and your company from legal complications. State laws will vary, but all require you to have workers’ compensation if you have W-2 employees. Penalties for noncompliance can be very stiff.

6. Professional Liability Insurance: This type is also known as Errors and Omissions Insurance. The policy provides defense and damages for failure to render, or improperly rendering, professional services. Your general liability policy does not provide this protection, so it is important to understand the difference. Professional liability insurance is applicable for lawyers, accountants, consultants, notaries, real estate agents, insurance agents, hair-salon operators, and technology providers to name a few.

7. Directors and Officers Insurance: This type of insurance protects the directors and officers of a company against their actions that affect the profitability or operations of the company. If a director or officer of your company, as a direct result of her actions on the job, finds herself in a legal situation, this type of insurance can cover costs or damages lost as a result of a lawsuit.

8. Data Breach: If a business owner stores sensitive or nonpublic information about employees or clients on his business computers, servers, or in paper files, he is responsible for protecting that information. If a breach occurs either electronically or from a paper file, a Data Breach policy will provide protection against the loss.

9. Homeowner’s Insurance: Homeowner’s insurance is one of the most important kinds of insurance you need. This type of insurance can protect against damage to the home and against damage to items inside the home. Additionally, this type of insurance may protect you from accidents that happen at home or may have occurred due to actions of your own.

10. Renter’s Insurance: Renter’s insurance is a subset of homeowner’s insurance that applies only to those whose who rent their homes. The coverage protects against damage to the physical property, contents of the property, and personal injury within the home.

11. Life Insurance: Life insurance provides for an individual’s loved ones in the event of the individual’s death. If you have life insurance, the insurer pays a certain amount of money to a beneficiary upon your death. You pay a premium in exchange for the payment of benefits to the beneficiary. This type of insurance is very important, because it allows for peace of mind. Having life insurance allows you to know that your loved ones will not be burdened financially upon your death.

12. Personal Automobile Insurance: Another very important type of insurance is auto insurance. Auto insurance covers all road vehicles (trucks, cars, motorcycles, etc.). Auto insurance has a dual function, protecting against both physical damage and bodily injury resulting from a crash, and also any liability that might arise from the collision.

13. Personal Umbrella Insurance: You may want some additional coverage, on top of insurance policies you already have. This is where personal umbrella insurance comes into play. This type of insurance is an extension to an already existing insurance policy and covers beyond the regular policy. This insurance can cover different kinds of claims, including homeowner’s or auto insurance. Generally, it is sold in increments of $1 million and is used only when liability on other policies has been exhausted.

This article originally appeared on

Five Disasters Your Business Owner’s Policy Doesn’t Cover

Are you covered?

A lawsuit can shut you down. As a small-business owner, your best protection is insurance. Do you know if you’re insured against hacked credit card numbers, sexual harassment allegations, or a flood—or are you skating along with your fingers crossed?

Some common disasters require special insurance. The general liability and property insurance coverage in your Business Owner’s Policy (BOP) is reasonably comprehensive. However, other insurance policies to augment it might cost relatively little and give you peace of mind. One-size-fits-all insurance such as what you get with a BOP may not be sufficient if you find yourself in one of these five situations:

Insurance disaster no. 1—You get sued over allegations of sexual harassment, wrongful termination, or discrimination. A cap-making business in Texas agreed to pay a $21,500 fine to settle a sexual harassment lawsuit in 2010. Defending the lawsuit may have potentially increased that cost. A BOP can include coverage for allegations of sexual harassment and the related issues of wrongful termination and discrimination. But depending on how many employees you have and what you feel your potential risk is, you may want to add Employment Practices Liability (EPL) insurance. It’s a coverage that can be included in unlimited amounts and at reasonable rates.

Insurance disaster no. 2—An accident closes you down completely. If an SUV were to plow through the front of your store, breaking glass and fixtures, and you were not able to reopen for many days, you would incur a loss of revenue over and above the damages sustained. For this, the answer is Business Interruption insurance. It compensates your business for lost profits (based on your financial records) and for overhead, like electricity. Business Interruption insurance is usually built into a basic business policy, but look at it carefully in light of your operation. You may want to increase the limits. Some policies pay out a designated amount and others pay the actual loss sustained.

Insurance disaster no. 3—Your business premises are flooded. If you own your property, consider whether you need flood insurance. It is not part of a basic BOP and being without it could be devastating to your business. Small-business owners have to consider the cost of physical property damage and loss of business, and insure for it. All major carriers sell flood insurance, with the National Flood Insurance Program providing coverage.

Insurance disaster no. 4—You are sued as a professional for giving bad advice if you’re a consultant, for a bookkeeping error if you’re a financial advisor, or for other sorts of professional negligence. Insurance for purported breaches that result in losses by clients is called Professional Liability insurance, or Errors and Omissions insurance. Professional Liability policies come in many forms, varying by the type of profession.

Insurance disaster no. 5—Your customer data is hacked. How many financial transactions do you handle online each week? Think about that exposure. Also think about the customer data you store for loyalty programs or customer relationship management (CRM) programs. Today, data breaches are of great concern to many small-business owners because the potential for financial damage is huge. Any business owner who stores personal information on customers is responsible for maintaining that information securely. If there is a breach, whether internal or external, the company that was breached is liable. Even if suspicion of a breach exists though no breach has occurred, a major credit card issuer may conduct a forensic audit. You could be assessed the cost of the audit.

Data-breach policies are tailored to various industries. For example, online retailers can get one that the PCI Security Standards Council endorses. The Small Business Authority, in conjunction with its merchant-processing services, offers a reasonably priced, PCI-compliant data-breach-protection policy as an add-on. The add-on policy provides coverage in case your merchant account, your terminal, or your software is breached. The policy will also cover you if you are suspected of a breach. The Small Business Authority, which has relationships with more than 40 carriers, sells BOPs as well as a range of other insurance products.

Most people consider insurance to be a necessary evil, but there’s another way to consider it. An adequate amount of insurance is what allows you to satisfy contractual requirements and go after bigger pieces of business. You may have to show that you carry a certain type of insurance in order to move into a particular retail location or to sign on with a big distributor. Then it not only becomes part of the cost of doing business, but also a way to help you increase revenue.