The Insurance Risks Involved with Reopening Your Business

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Businesses may be finding themselves stuck between a rock and hard place. Those that stay closed will struggle with lost income. Those that open too quickly may face the possibility of coronavirus outbreaks and associated legal issues. As governments announce plans to reopen, businesses will have to consider the risk management implications carefully.

The Debates Rages On

President Trump recently unveiled the Guidelines for Opening Up American Again. The guidelines include criteria that state and local governments can use as they go through the three phases for reopening their economies.

Several governors have already announced plans to reopen their states. According to CNN, Georgia, South Carolina and Tennessee have announced plans to loosen restrictions and restart their economies. The mayor of Las Vegas has also called for the city to reopen even though, in an interview with CNN’s Anderson Cooper, she said that she would not provide social distancing guidelines and that such decisions would be up to the business owners.

Not everyone agrees that this is the right course of action. According to the Los Angeles Times, top federal health officials have warned that reopening too soon could result in new outbreaks of COVID-19.

The Risks of Reopening

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M. Brant Watson
Senior Vice President
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Heffernan Insurance Brokers – CA Insurance License # 0564249
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