As more of the country slowly reopens after Covid-19 closures, businesses are figuring out how to safely operate in a way that protects employees and customers while also generating needed revenue. However, some businesses are facing new and unexpected challenges that could impact their operations for the long haul. In today's Aegis blog post, we look at some industries that are facing more business risks even as they reopen and welcome back customers. We also discuss how business insurance can help mitigate these risks.

Restaurants

The restaurant industry faced immediate challenges due to Covid-19 shutdowns, with many completely shutting down while some were able to offer delivery or curbside service to stay afloat. Although most restaurants have reopened in some capacity, they still face higher business risks and liability claims due to the existing threat of Covid-19. For example, many restaurants will likely be impacted financially because of disruptions to food supply chains, leading to higher costs. Also, they face a higher threat of food contamination or the spread of illness due to sick employees, which could hurt their reputation and bottom line.

Retail

Covid-19 closures impacted the retail business in different ways, as some were forced to shut down completely while others deemed "essential businesses" could stay open with modifications to hours and safety guidelines. Regardless, retailers are also facing the concerns of disrupted supply chains for merchandise, or delays in deliveries of raw materials, which could lead to broken contracts and liability claims. Also, retailers that are understaffed due to Covid-19 may also face greater liability risks due to safety concerns or workforce injuries.

How Business Insurance Can Help

While commercial insurance can't solve all the problems businesses are facing, it can provide peace of mind and financial assistance for specific issues related to their industries. For example, restaurants can have financial protection against lawsuits related to food contamination that injures a customer, and retailers can have Workers Compensation that protects against claims from workers injured on the job. Quality commercial insurance allows companies to focus on their recovery and future growth while protecting against losses and damages now.

Aegis Insurance & Financial Services serves businesses across Texas by providing quality, reliable Commercial Insurance policies at competitive rates. Aegis tailors business insurance coverage to specific industries to meet their unique needs, and Commercial Insurance specialists are always available to discuss options, risks, and coverage needs. Contact our Aegis office at 713-850-7622 for more information, or fill out our online form to request a free quote!