Whether it’s a fire, a natural disaster or protecting yourself from slip-and-fall lawsuits, c-stores must have the proper coverage to protect their investments. But how do you know if you have the right coverage? Attendees at the 2016 NAG Conference Sept. 11-14 will learn best practices to ensure they have the right insurance plan.
Can any convenience store chain, franchisee or independent gasoline marketer withstand the financial hit of a fire that results in a two-month shutdown of operations? What about surviving after someone is injured after slipping on a wet floor? Can the business survive an employee who embezzles sizeable amounts from the business or a hacker who gains access to your back-office data?
Both man-made and natural disasters can drastically affect the business where it hurts—its pocketbook—as well as teach every convenience store operator an invaluable lesson. But do you fully understand the insurance products available to cover those risks? Are you over-insured or under-insured? Do you pay more for insurance than competitors in your industry?
Led by an insurance consultant, our insurance panel at the 2016 National Advisory Group (NAG) conference will examine what you need to do to maximize protection, minimize liability and find the best premiums to meet your needs.
Speakers for this important NAG session include:
* Vernon Young, President and CEO, Young Oil Co.
* Joy Gänder, Principal, Gänder Consulting Group
Register now for the 2016 NAG Conference.
All insurance premiums are based on the risks involved. Insurance companies evaluate the situation to determine the risk of all potential losses that they might have to assume and usually base their rates on the results. Therefore, any steps that can be taken to reduce potential risks not only helps safeguard the c-store operation, but may make the business eligible for lower insurance rates.
Every c-store operation, large or small, should have a plan in place to manage the risks that are part of operating the business. A loss prevention plan helps protect the business as well as its owners, operators, franchisees and shareholders. The goal is to develop a plan that will help prevent losses from occurring, and to manage those that do occur.
This session at the NAG Conference will include a comprehensive overview of the options convenience store owners have, what kind of coverage they should consider and how to evaluate potential threats that insurance plans will cover.
C-store owners must evaluate all of the company’s exposure to risk. That, in turn, may mean looking at the property, equipment, products/services, and employee-related exposure to risk in the business. Then, and only then, is anyone ready to purchase insurance that will provide the funds needed to help restore the c-store operation in the event of a loss.
We’ll see you in Savannah!