Hurricane season is upon us and Berger Singerman’s insurance team set out to see how Florida’s business owners are prepared to handle an insurance claim. Turns out, they’re not. Berger Singerman surveyed over 2,000 Florida business owners and found that 69% of respondents have not read their policy, 61% do not know their hurricane deductible and 64% do not know whether their policy covers code upgrades. These are all crucial in understanding the breadth of coverage available in the event of a loss.
It was also revealed that businesses have prioritized data backup and communicating emergency employee procedures over reviewing their coverage. The results of this survey are not surprising as business owners often come to us shocked at the deficiencies in their insurance coverage.
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