• Kent Shepard

What Are The Top Business Insurance Risks


According to insurance experts, here are the top five business risks. The Allianz Risk Barometer surveyed more than 500 managers and corporate insurance experts in 47 countries, to identify the primary challenges facing businesses this year.1

While these are responses from large corporations, we take away many applications for medium and small businesses. Here are some of the risk issues for 2020.

  1. Natural Disasters – These issues are always a concern for small and medium business. We can offer flood, earthquake and wind insurance as your needs arise.

  2. Cyber Liability- Cyber liability and data theft is one of the hottest topics for businesses, risk managers and insurance companies. 2019 had some of the biggest data thefts that we have seen. But even more interesting, is that small businesses are exposed more than large businesses. In fact, 25% of data breaches affect businesses with less than 50 employees. A small business has a greater chance of having a cyber breach than it does of having a fire.

  3. Government mandates and regulations - There continues to be increased oversight from government in healthcare and financial reporting that creates new risk and liability for businesses.

  4. Political and Civil Issues - As seen in 2020, political and civil issues have a direct impact on many small businesses. Having the right kind of business insurance is important to protect your business in the event of civil riots.

  5. Business Interruption - If your business has a loss and you are unable to operate for a period of time, you will need financial resources in order to get back in operation. You may even need to continue payroll for a period of time. Business interruption insurance can provide these resources.

We are committed to providing clients with the highest quality insurance plans available combined with some of the lowest possible rates. Whether you are shopping for auto insurance, home insurance, life or business insurance, we can help you obtain the best coverage available with the lowest rate possible. All of us value the long term relationship with our clients, and are proud to give families, individuals and businesses the personal attention required when it matters most. When claims arise, we realize that it can be very stressful and will do everything possible to assure timely and complete recovery.

Whether you’ve just started a home-based business or your business is established and growing, Shepard Insurance Agency can help you protect your livelihood against the unexpected. We offer tailored programs for all types of businesses and professions in McAllen, TX, the entire Rio Grande Valley and the great State of Texas.

Call us at (956) 686-3888 or start a Free Rate Quote. We can review your insurance requirements and create a portfolio to protect your assets and minimize your risk of loss.


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