Supplier

Supplier is a commonly used word in business and is often included in policy wordings. Who is a supplier? A supplier is a person or organization who provides a service, information or product to others.

Why is a supplier an important part of your business insurance concerns? If you depend on a certain supplier what do you do if that supplier has a major disaster, such as a fire and they can no longer provide the products you need for your manufacturing business? Where will you get new products? Will you lose business due to this delay?

This is part of what you need to consider when you are setting up your business. If you cannot provide an easy answer then the resulting loss of income could be covered under a contingent business interruption coverage. Talk to your agent or broker about this area of concern.