With more than 1.5 billion people enduring some form of stay-at-home orders to combat the COVID-19 pandemic, concerns continue to surface about the economy. Estimates from the Congressional Research Service predict a 2-percent reduction in global economic growth per month under the existing conditions. It is expected to get worse before it gets better.
Insurance brokerage companies are in a unique position to help stimulate the economy. Each year, the insurance industry distributes more than $300 billion through policy benefits and claims. Insurance companies are among the biggest investors in companies, stocks, and bonds, with more than $1 trillion invested in the U.S. economy.
Most businesses and individuals do not give much thought to their insurance coverage until they need to use it. But insurance companies help to keep our economy strong in several ways.
When an insurance company helps businesses mitigate risk, worker safety increases. villaNOVA Insurance Partners offers businesses a comprehensive risk analysis as part of its services. Once completed, the analysis will offer suggestions on the policies and procedures that provide the most protection for the business and its employees. This can include strong worker safety programs, which help to reduce the cost of insurance premiums. When workers are healthy and able to work, they play a role in stimulating the local economy.
Unforeseen circumstances can cause financial distress for businesses. The right coverage helps businesses tackle challenges such as the COVID-19 pandemic, providing the financial tools needed to stay afloat or recover from a disaster. When businesses can continue to operate safely, employees continue to work and be paid, and economic activity increases.
Insurance provides social benefits like compensation for work injuries or funds for rebuilding property destroyed during natural disasters or other catastrophes. By providing a safety net for people to rebuild their livelihoods or recover from work-related injuries, insurance helps to stabilize the economy.
Knowing there is financial coverage during times of unexpected loss allows consumers and businesses to invest more working capital into the economy.
Every client who walks through the door at villaNOVA Insurance Partners receives the VIP treatment. Our holistic approach takes into account your short- and long-term goals to develop a fully personalized and functional insurance solution.
Businesses are complex. villaNOVA’s solutions make clients’ lives easier. We offer consulting and brokerage servicesand solutions designed to cater to every aspect of your business.
villaNOVA Insurance Partners is passionate about what you do! We are a full-service insurance brokerage and consulting firm that makes working hard for our clients our number one priority. Our team of experts brings years of experience, innovative ideas, and top-notch service to the table. Insurance is not a one-size-fits-all industry. We go the extra mile to help you secure the best insurance coverage for your needs.
Contact us online or give us a call at 484-580-6661 to schedule a free consultation.