- Engage Experts Early: Businesses should consult attorneys and insurance professionals skilled in policy negotiation to ensure their contracts provide meaningful protection.
- Focus on Predictive Risk Assessment: Just as insurers use predictive modeling to exclude high-risk events, policyholders must adopt similar tools to identify areas of potential exposure and craft policies that address these gaps.
- Push for Legislative Reform: Advocating for clearer and fairer insurance regulations could help ensure that coverage expectations align with policyholders’ needs.
This case is a blunt reminder that insurance contracts are not mere formalities; they are complex, enforceable legal agreements. Whether you’re a small business owner or a corporate executive, the time spent understanding your policies and anticipating risks is an investment in your company’s future.
As we move forward in a world shaped by COVID-19 and other global uncertainties, one thing is clear – diligence and foresight are no longer optional—they’re essential.
