How Onsurity Plus Secures SMEs with Comprehensive Business Insurance

Onsurity Plus

Securing your business might sound like a snooze fest but stick with me here – because this is where things get interesting. While Onsurity has been busy safeguarding the health and wellness of 8000+ businesses, we realized something major. What about the businesses themselves? The risks, the unforeseen events, the “I-never-saw-that-coming” moments? That’s when Onsurity Plus was born.

Onsurity Plus is your business’s very own safety net, safeguarding your business across all fronts, from operational risks to financial liabilities. Whether you’re a startup dreaming big or an SME navigating everyday challenges, this is how you keep your foundation strong. No confusing jargon, no stress – just practical protection for your business, wrapped up in one plan.

In this blog, we will discuss about the services of Onsurity Plus and how it can be your business’s best friend.

Let’s go! 

What Onsurity Plus Offers for SME Business Security?

While the full story is extensive, in short, we cover all the risks your business faces, ensuring you’re prepared for whatever comes next. First off, your employees? Covered. Whether it’s health hiccups or wellness worries, we’ve got them shielded from head to toe.

And that’s just the beginning. We ensure every aspect of your business is fortified with tailored insurance solutions. From asset coverage to liability protection, we address every risk with precision, leaving nothing to chance. At Onsurity, we believe in thorough, all-encompassing coverage—because your business deserves no less

Quick read: Why Is Business Insurance Essential for Tech Startup

Onsurity’s Journey: Expanding into Business Insurance Solutions

It all started when we noticed businesses losing sleep over things they didn’t even think about—like a surprise lawsuit or a freak accident at their office. We’re talking about stories where small businesses had to deal with hefty legal fees from a single slip-and-fall incident or had to replace a pricey piece of equipment that suddenly decided to call it quits. That’s when we thought, “Hey, this insurance thing isn’t just for the big guys!”

Remember that café owner whose coffee machine decided to give up the ghost right before the morning rush? Or the tech startup that had its prized servers fail, leaving its clients in a digital lurch? These aren’t just flukes; they’re the kind of events that make businesses rethink their risk management strategies.

So, we put our heads together and thought, “Why not make business insurance accessible and engaging?” We weren’t just going to throw out a bunch of boring jargon. No way! We wanted to create something that’s as lively as a coffee shop on a Monday morning and as reliable as your favorite pair of jeans.

From that point on, it was clear: we needed to shake up the business insurance scene. We weren’t just providing a safety net; we were crafting a lifeline with a personality. Our mission? To turn the intimidating world of insurance into something as approachable as your neighborhood cafe.

And that’s how we went from just thinking about business insurance to diving headfirst into making it something businesses actually look forward to dealing with.

Onsurity Plus: A Complete Suite of Business Insurance for SMEs

1. Cyber Insurance

Cyber Insurance provides coverage against digital threats such as data breaches, cyberattacks, and more. It helps companies manage the financial burden of recovering from these incidents, covering expenses like legal fees, customer notification, and system restoration.

Example

A small fintech startup faces a phishing attack targeting one of its employees, leading to a breach of customer data, including stolen credit card information. Thanks to Cyber Insurance, the company is able to alert affected customers, hire legal support, cover forensic investigations to assess the damage and compensate for lost income due to the disruption. This insurance helps the business recover without major financial setbacks, safeguarding both its reputation and operations.

Quick read: Cyber Insurance for Small Businesses

2. Directors & Officers Insurance (D&O)

Directors & Officers (D&O) Insurance safeguards the personal assets of the company’s Board of Directors and leadership team if they face lawsuits for actions taken in their official roles. It covers legal defense costs, out of the court settlement, and damages resulting from claims like mismanagement, employment disputes, or regulatory issues.

Example

A technology company faces a lawsuit from shareholders, accusing the board of directors of making misleading financial statements. The executives, facing significant legal costs, are shielded by their D&O Insurance, which covers legal fees and potential settlements. Without this coverage, the personal assets of the directors could have been at risk.

Also read: D&O Insurance Board Members

3. Commercial General Liability Insurance (CGL)

Commercial General Liability Insurance provides the company coverage for third-party claims related to their business services or product resulting into bodily injury, property damage, and advertising injuries. It safeguards businesses from the financial impact of accidents or negligence occurring on their premises or due to their operations.

Example

A visitor slips and falls at a retail store, resulting in a lawsuit for medical expenses. The store’s CGL Insurance covers the customer’s medical bills and legal defense costs, preventing the business from absorbing these expenses directly and allowing it to continue normal operations without disruption. 

Suggested read: CGL Insurance for Businesses

4. Asset Insurance

Asset Insurance, often referred to as property insurance, covers damage or loss of physical assets like buildings, equipment, and inventory due to unforeseen events such as fire, theft, or natural disasters. 

Example

A manufacturing unit experiences a fire that destroys vital equipment and stock. Asset Insurance steps in to cover the cost of replacing the equipment and lost inventory, allowing the company to rebuild without significant financial strain. This coverage ensures that the business can quickly resume operations without incurring heavy losses.

5. Workmen Compensation Policy

Workmen Compensation Insurance provides coverage for employees injured or disabled while performing their job. It covers medical expenses, lost wages, and rehabilitation costs, ensuring both employee welfare and legal compliance for the employer.

Example

An employee at a construction site is injured while operating machinery. The Workmen Compensation policy covers the medical treatment, rehabilitation, and a portion of the employee’s wages during recovery. This not only helps the employee get back on their feet but also protects the employer from potential lawsuits arising from the incident.

Quick read: Buy Workmen Compensation Insurance

How Onsurity Plus Safeguards SMEs with Tailored Insurance Solutions

1. Tailored Coverage Solutions

2. Streamlined Claims Process

3. Gap Analysis for Risk Identification

4. Affordable Premiums with Flexible Options 

5. Expert Guidance

6. Comprehensive Business Protection  

Conclusion

While many businesses find themselves scrambling to handle unexpected mishaps, Onsurity is here to change the narrative. Imagine your business facing a sudden crisis, and instead of feeling overwhelmed, you’re equipped with a reliable safety net that keeps you calm and collected.

With our tailored coverage and expert guidance, you can focus on what matters most – growing your business. So, if you’re looking for a partner who turns insurance from a daunting task into a dependable ally, Onsurity is your answer. Let’s make your business not just survive, but thrive.