Clients' risk management departments can be sticklers for insurance.
Do your customers care what kind of insurance you have? If they're smart, they do. If they have risk management departments, they may even have specific requirements you must meet to sell to them.
Typically, risk managers insist on certain types and levels of insurance along with contingency plans for meeting commitments if things go wrong, says Valerie Walters, director of global risk management for Ciena, a fiber optic materials manufacturer in Linthicum, Maryland. "I have to be the corporate pessimist, to look at the worst-case scenario and protect my organization," she says.
Memorial Day Subscription Sale- Unlock this subscriber exclusive article and more for 20% off today.
Access all Entrepreneur content with no ads, unlock discounts, and get exclusive advice only available to our subscribers. Plus, our magazine delivered straight to your door.
Get a year subscription today for 20% off. Just use code SAVE20 at checkout.
Entrepreneur Editors' Picks
James Dyson Created 5,127 Versions of a Product That Failed Before Finally Succeeding. His Tenacity Reveals a Secret of Entrepreneurship.
7 Meaningful Ways Your Business Can Honor Memorial Day
Breast Implants Left This Founder With Debilitating Symptoms, So She Launched an Intimate-Apparel Line That Goes Beyond Buzzwords
Kids in the Hall's Bruce McCulloch Says TikTok Is the New Punk Rock
'I Am Not a Diversity Quota,' Says the Founder Disrupting the Dessert Category
Memorial Day Is a Time for Remembrance, So What's With All the Mattress Sales?
Pharrell Williams, Contemporary Artist Nina Chanel Abney and Brand-Builder Shaun Neff Announce Launch of Game-Changing NFT Platform