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Managing Risks During Peak Business Seasons

Managing Risks During Peak Business Seasons

For many businesses, peak seasons bring exciting opportunities for increased sales, brand exposure, and new customers. Whether it’s a holiday shopping surge, a tourism boom, or a local festival, these busy periods can also introduce unique risks.

At Andres O’Neil & Lowe Insurance, we’re here to help you navigate these challenges. By adjusting your commercial insurance policies and implementing proactive risk management strategies, you can protect your business and focus on making the most of the season.


1. Review and Update Your Insurance Coverage

As your business activity increases, so do your risks. Consider the following:

Inventory Coverage

  • Why it matters: Increased inventory means higher potential losses from disasters like fires or theft.

  • Action step: Review your policy’s limits and consider temporary endorsements for additional stock.

General Liability Insurance

  • Why it matters: More customers on your premises increase the chance of accidents like slips and falls.

  • Action step: Ensure your liability coverage can handle potential claims.

Business Interruption Insurance

  • Why it matters: Peak seasons are critical for revenue, and disruptions can have significant financial consequences.

  • Action step: Confirm your policy accounts for peak-season income to protect against lost profits.


2. Train and Prepare Your Staff

Your employees play a crucial role in managing risks during busy times.

  • Seasonal Employee Training: Ensure temporary staff are trained in safety protocols, customer service, and emergency procedures.

  • Conflict Management: Prepare employees to handle customer disputes and crowded environments professionally.

  • Cybersecurity Awareness: Educate staff to recognize phishing attempts, especially with increased online transactions.


3. Address Cybersecurity Risks

Peak seasons often mean higher online activity, making businesses a target for cyberattacks.

  • Update Software: Ensure all systems, including point-of-sale devices, have the latest security updates.

  • Enable Multi-Factor Authentication (MFA): Add an extra layer of security for critical accounts.

  • Review Cyber Liability Insurance: Ensure your policy covers data breaches, ransomware, and other cyber threats.


4. Protect Your Property

Increased activity means higher risks for your physical premises.

  • Enhance Security: Install cameras, update alarm systems, and improve lighting to deter theft and vandalism.

  • Inspect for Hazards: Regularly check for risks such as icy walkways, overcrowded storage areas, or faulty handrails.

  • Routine Maintenance: Schedule inspections for heating and ventilation systems to prevent breakdowns during high demand.


5. Plan for Localized Risks

If your business is impacted by tourism or local events, consider additional steps:

  • Event Insurance: Ensure adequate liability coverage if you’re hosting or sponsoring an event.

  • Vehicle Protection: Verify that your commercial auto insurance covers increased fleet usage.

  • Accommodation Coverage: If you manage lodging, ensure your policy accounts for full occupancy or high guest turnover.


6. Conduct a Risk Assessment

Identifying potential risks before the season starts can help you mitigate them effectively.

  • Work with Your Insurance Advisor: Review your policies to uncover any gaps or outdated limits.

  • Analyze Past Claims: Look for patterns in previous incidents to inform preventative measures.

  • Implement Contingency Plans: Prepare for challenges like supply chain disruptions or extreme weather events.


Prepare Now, Thrive Later

The excitement of a peak business season doesn’t have to come with unnecessary stress. By taking steps to mitigate risks and ensuring your insurance policies align with your operations, you can focus on delivering great experiences to your customers.

At Andres O’Neil & Lowe Insurance, we understand the demands of your busy seasons and are here to help you stay protected.


Contact us today to review your policies and explore tailored solutions for your business:

Here’s to a safe and successful peak season!