Top Business Insurance Risks For 2021

March 21, 2021

According to a recent AMEX survey, 92% of businesses pivoted last year and 76% of small businesses believe they will need to pivot again in 2021 as companies adjust to new operational norms in a post-Covid environment.


  1. Cyber Liability– Cyber liability and data theft is one of the hottest topics for businesses, risk managers, and insurance companies.
  2. Employee Safety– Making sure your business follows all COVID compliance protocols will be a top priority.
  3. Remote workers– In 2021, a remote workforce and Covid related safety measures will become more routine. How businesses recruit, onboard, train, and terminate employees has changed, some say permanently. Companies will need new strategies to deal with employee burnout, talent management, and workload allocation.
  4. IT security– A remote workforce will necessitate new IT protocols.
  5. Slow economic recovery– Businesses will need to adapt operations to manage the 2021 recovery.
  6. Government mandates and regulations – There continues to be increased governmental oversight that creates new risks and liabilities for businesses.
  7. Political and Civil Issues – As seen in 2020, political and civil issues have a direct impact on many small businesses. A comprehensive insurance portfolio is important to protect your business.
  8. Business Interruption – If your business has a covered 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.
  9. Class actions and COVID-19 cases-This year has already seen a wave of class-action lawsuits directly related to COVID-19. Examples include allegations against cruise lines claiming their mishandling of Covid, accusations of ecommerce and grocery store price gouging, and suits suggesting that companies misrepresented to investors the potential financial impact COVID-19.

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Sources: Forbes, Insurance business