Start up or Saddle up !
In a typical day as an Insurance Broker , when I go out to meet customers or prospects, I never finish the discussion without talking to the key person of that organisation about their Liability exposure.
My sense of duty as an Insurance broker becomes heavier if the client organisation is an Small or Medium Enterprise or a Startup company.
They have no financial strength to tide over a loss situation or a major legal dispute resulting in a court or arbitration award.
I found this interesting article titled Why Goldman and Pritzker Sank Millions Into a Startup Before Suing It for Fraud . ( Article and picture credit : Wall Street Journal ). Any one who is familiar with Executive Liability would recognise this as a possible Directors and Officers Liability claim scenario.
Wow..think of those tens of thousands of start up companies, worldwide, chasing their dreams, pursuing their vision and carrying the flag of enterpreneurship - all for disruption - what is getting disrupted - the idea or the dream ?
I am advising a tech start up already in commercial operation with a disruptive idea - over a period of about 9 months - still taking time to buy liability insurance - his priority was business insurance for his product and accident insurance for his associates. I am not giving up on advising him about his liability exposure.
My heart goes out to the start up guys with a dream in their eyes, burning desire to succeed in their heart but who ignore to back this all up with a good insurance program, especially the liability kind.
My sense of duty as an Insurance broker becomes heavier if the client organisation is an Small or Medium Enterprise or a Startup company.
They have no financial strength to tide over a loss situation or a major legal dispute resulting in a court or arbitration award.
I found this interesting article titled Why Goldman and Pritzker Sank Millions Into a Startup Before Suing It for Fraud . ( Article and picture credit : Wall Street Journal ). Any one who is familiar with Executive Liability would recognise this as a possible Directors and Officers Liability claim scenario.
Wow..think of those tens of thousands of start up companies, worldwide, chasing their dreams, pursuing their vision and carrying the flag of enterpreneurship - all for disruption - what is getting disrupted - the idea or the dream ?
I am advising a tech start up already in commercial operation with a disruptive idea - over a period of about 9 months - still taking time to buy liability insurance - his priority was business insurance for his product and accident insurance for his associates. I am not giving up on advising him about his liability exposure.
My heart goes out to the start up guys with a dream in their eyes, burning desire to succeed in their heart but who ignore to back this all up with a good insurance program, especially the liability kind.
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