How an insurance broker could protect your business from the effects of climate change
Heatwaves, natural disasters, and soaring temperatures across the globe are all pointing to the fact that climate change is becoming a part of everyday life for many.
For businesses across the creative sector, this new normal presents a number of new or increased risks. If you want to ensure your business can continue to thrive, it’s important to be aware of how the risks that your business is exposed to might change. Then, you can take steps to mitigate their impact.
Read on to discover how climate change could affect the risks that your business is exposed to and how working with a specialist insurance broker could help protect you.
Climate change could increase the risks that businesses face across the creative sector
The effects of climate change could be multifaceted, and many may directly or indirectly affect your creative business. A few examples of how this could happen include the following.
- Film locations could experience more extreme weather, making it difficult to predict when conditions will be suitable for shooting.
- Transport links can be affected by extreme weather, so team members or clients may struggle to attend meetings or work days.
- Your premises or sets could be damaged as a result of flooding or fire.
- Disruption to supply chains could lead to shortages of materials, potentially affecting your ability to carry out your work.
As you can see, climate change could affect your business in a variety of different ways. The above is just a selection of possibilities, each of which could significantly affect your ability to run your creative business profitably.
An insurance broker could help you mitigate the impact of climate change risks
Even though it can be scary to think of how climate change could affect your business, it’s sensible to address those risks sooner rather than later. A thorough plan can provide valuable peace of mind that you’re protected if the worst were to happen.
It may be helpful to speak with a specialist insurance broker who has a working knowledge of the creative industry. They could help in the following ways.
1. Your broker can assess the specific risks your business faces
A specialist insurance broker can be a real asset to a creative business owner because they have a good knowledge of your industry. This is complemented by their understanding of the types of insurance policies that can be most helpful for you.
It might be hard to spot all the risks that your business is exposed to. So, your broker can use their expertise and experience to assess your business objectively and point out your vulnerabilities.
This isn’t just helpful for the purposes of organising insurance; it could help you to identify opportunities to minimise risk that you hadn’t noticed before. In doing so, you could reduce the level of risk that your business is exposed to.
2. They’ll create a bespoke insurance package that addresses your unique business needs
While the majority of business sectors will be affected by climate change in one way or another, the specific risks your business faces are likely to be different than those in other industries. As such, there’s no one-size-fits-all approach to protecting a business. The risks you face will determine what type of cover is most appropriate.
Working with a broker means they can consider the full range of products available, and they will only suggest those that are suitable for your specific business. This means you can avoid paying for policies that you don’t need or that aren’t quite right for your business.
3. Your broker can help you to make a claim if you need to
No matter the circumstances, claiming on your insurance can be stressful, but your broker can help to make this far simpler. They could also help to ensure the claim progresses as quickly as possible.
If you need to make a claim, get in touch with your broker as soon as possible and they can help to walk you through the necessary step. They could even handle the claims process on your behalf, so that you can get back to doing what you love.
Get in touch
If you’re concerned about the risks your creative business could face, whether that’s as a result of climate change or other factors, please get in touch. We specialise in providing bespoke insurance for businesses across the creative sectors, including digital agencies, film production companies, venue owners, and freelance photographers.
Email creative@eggarforrester.com or use our contact form to request a callback from our team.
