Small businesses are the backbone of the U.S. economy, but many are unknowingly underinsured—often discovering gaps only when a claim is denied.
According to the U.S. Small Business Administration, roughly one-third of businesses don’t have insurance and three-fourths are underinsured, leaving them exposed to risks that could financially devastate their operations. Between March 2021 and March 2022, 917,825 U.S. businesses closed, with small businesses accounting for 833,979 of those closures, according to the SBA.
For claims professionals, this isn’t just a statistic—it can be a daily reality. Business owners file claims expecting coverage, only to