My comment: There are various ways to hedge risk, with one of those being the purchase of insurance. The important first step in deciding how to hedge is first to assess the various risks a business faces (a step that, in particular where small business are concerned, is often not looked at in any formal way) and then choosing the most cost effective way of hedging that risk This article talks about various forms of insurance that, at the very least, should be considered
About the author – Robin Beukers MBA CPA CMA CIA
I act as interim c.f.o., controller or special projects lead (for example, development and review of financial statements and internal controls, financial modeling, acquisition/funding risk assessment). Clients range from Fortune 100 level to startups.