The hidden costs of equipment breakdown
Unreliable equipment can be the death knell for a business, with the costs of equipment failure and downtime tricky to accurately predict and calculate.
As Australia emerges from lockdown, businesses are now facing the next hurdle.
As they adapt to the post-COVID landscape, some will be looking at how to adapt their business models to comply with new hygiene and social distancing requirements, while also saving on unnecessary costs.
However, now is not the time to cut back on insurance: with many businesses holding fewer cash reserves, insurance still provides important financial protection against unexpected setbacks, like fire, storms or theft.
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Photo by Andrea Donato on Unsplash
Unreliable equipment can be the death knell for a business, with the costs of equipment failure and downtime tricky to accurately predict and calculate.
An indemnity is a promise or guarantee to compensate someone for loss or damage suffered.
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