5 risks that auto repair shops face

| March 13, 2019

article image
If you have an auto body shop or an auto repair shop, there are plenty of risks that you need to be aware of. Knowing about the risks you face is the first step to managing those risks and preventing them from threatening your business’s financial well-being. It’s not that we’re trying to spread “doom and gloom” or make you paranoid – we want you to be prepared. So, we’re going to go over 5 risks that your auto shops or garage faces – and present an auto repair shop insurance solution for each. 5 risks that auto repair shops face (and the insurance solutions). 1. A customer trips and falls on your property – and decides to sue you. Of course, since you run an auto repair shop, your clients have to come onto your property – and a lot of people come and go every day as they drop off their cars, pick up their cars, and so on. But when customers come and go, that opens your business up to liability if someone gets hurt or claims that you caused damage to their property.

Spotlight

CHAPKA ASSURANCES

Who are we? We have been a broker specialized in travel insurance since 2002. Pioneer in this market and armed with a historical know-how, we constantly create insurance solutions adapted to the needs of travel industry professionals and to individuals. Chapka was born from our desire to make insurance accessible to all by making policies understandable, simplifying subscriptions and facilitating refunds. Individual travelers purchase their policy 100% online, through an easy to use platform on www.chapkadirect.fr.

OTHER ARTICLES

What is the Expense Ratio for an Insurance Company?

Article | February 24, 2020

Providing financial security to its consumers is the ultimate aim of an insurance company. However, sustaining its own capability to finance its customers becomes its priority. To measure the financial sustainability, insurance companies use various different methods and techniques. Among them, the Expense Ratio serves as the ideal measure providing clarity on the logistics. Signifying the efficiency of an insurance company and measuring its profitability, the expense ratio gives a clearer picture of the financial aspects of the company.

Read More

Will COVID-19 Disrupt the InsurTech Movement?

Article | April 1, 2020

If there is one thing that we have all learned with the spread of COVID-19, it is that there is virtually no industry that is immune to its impact. The global pandemic is disrupting the daily lives of individuals, the operations of businesses, the activities of governments, and even the approach of cherished institutions like museums, universities, and religious organizations. The P&C insurance industry, like many others, is reeling from the implications of the virus. Amid the rapid changes that are taking place, it is important to assess the impact of COVID-19 on the InsurTech movement. After all, InsurTech has always been touted as the ultimate disruptor of the insurance industry. But, might COVID-19 prove to be a disruptor to InsurTech?

Read More

COVID-19: How Insurance Can Help Mitigate Business Losses through the Crisis

Article | March 19, 2020

The COVID-19 outbreak is now a pandemic, affecting governments, businesses and individuals all over the world. As borders are closed, and day to day life is put on hold, it presents an unprecedented threat to the global economy and to the future viability of many businesses. Nevertheless, there are steps that organisations can take to protect themselves, and to ensure the financial consequences are kept to a minimum. In particular, businesses should be considering whether they can mitigate losses through their existing insurance policies. Regardless of the type of insurance, particular attention should be paid to notice requirements typically set out in each policy wording.

Read More

Top Features of an Effective Claims Management System

Article | March 12, 2020

Claims are a critical part of the insurance business. Even if your insurance company is not as big as Axa or Allianz, you need to have an efficient claims management system. Clients’ mindset and expectations are different from what they were 10 years ago. A recent survey called Insurance 2020: The digital prize — taking customer connections to a new level has brought to light some fascinating facts.

Read More

Spotlight

CHAPKA ASSURANCES

Who are we? We have been a broker specialized in travel insurance since 2002. Pioneer in this market and armed with a historical know-how, we constantly create insurance solutions adapted to the needs of travel industry professionals and to individuals. Chapka was born from our desire to make insurance accessible to all by making policies understandable, simplifying subscriptions and facilitating refunds. Individual travelers purchase their policy 100% online, through an easy to use platform on www.chapkadirect.fr.

Events