The importance of having an insurance plan cannot be understated. An important financial tool, it aids in mitigating losses while ensuring financial stability and security in the event of a disaster or mishap. For businesses, it can be a vital safety net to safeguard their future.

When an unexpected incident occurs, the results can be catastrophic, leaving the owner(s) with depleted capital and a high possibility of debt.

In the past two years, we have witnessed first-hand that change and challenges can occur unexpectedly. Both the frequent floods in the Klang Valley and the COVID-19 health crisis have demonstrated the necessity for business insurance. Even though Malaysia is transitioning to the endemic phase now, there could still be unexpected risks and unforeseen challenges ahead.

Allianz, one of the world's largest and most trusted insurers, fully understands the pains faced by today's business operators. Hence, it has introduced Allianz Business Shield to help its customers develop business resilience for the tough times.

Many business owners today fail to critically evaluate their operations and understand the common risks that come with the size and nature of their business. Having the right business insurance can help minimise their exposure to risk, allowing owners to keep their businesses afloat even in the worst of times.

Catering for the needs of today's business owners and the common pain points they face, Allianz Business Shield serves as a comprehensive business solution, offering business owners the flexibility to customise their coverages and sum insured.

Regardless of the size of the business, Allianz Business Shield serves to protect it, covering areas such as business interruption and unexpected expenses. For instance, retailers can protect their retail shops by insuring them against fire, public liability, workers' compensation, glass and burglary. For manufacturers, they can protect their businesses from unforeseen risks with coverage against fire and machinery breakdown, as well as the Profit Shield, goods in transit and mobile plant and equipment coverage.

The business solution is tailored for up to 63 occupational codes that cover sectors such as retail, wholesale, F&B, manufacturing and services. Allianz Business Shield also covers fitness and wellness centres, beauty salons and offices, among others.

With Allianz Business Shield, businesses can opt for a sum insured from RM10,000 to RM10 million. The coverage extends to legal liabilities and fees brought about by costly unwarranted lawsuits.

Meanwhile, the Fidelity Guarantee coverage serves to protect the business against losses caused by employee fraud or dishonesty. In the event of any unfortunate accident that occurs in the workspace, Allianz Business Shield's coverage also extends to employees, ensuring they will be compensated when the unexpected happens.

Allianz Business Shield keeps businesses going amid the COVID-19 pandemic. An optional benefit, Profit Shield provides businesses with protection of up to RM2 million for loss in profit. It also covers a one-time cost for disinfecting premises as well as providing test kits for employees if a notifiable disease manifests on the premises.

Allianz goes a step further by protecting businesses against various interruptions. For example, the Inconvenience Relief Benefit helps businesses stay afloat with benefits of up to RM2,000 per day in the event their operations are affected by fire or other covered perils or notifiable diseases.

In addition to providing comprehensive insurance coverage, the optional Allianz Hospital Income policy provides assurance to employees by providing affordable medical coverage with a daily hospital income of up to RM500.

Much like business strategies, there's no one-size-fits-all solution when it comes to insurance. That's why Allianz offers a comprehensive solution with added flexibility that allows owners to customise their plan.

With its fully customisable solutions, Allianz Business Shield helps to empower businesses by providing adequate and cost-effective protection. They would also benefit from the professional advice given by Allianz agents, who will tailor the best combination of plans to fit their needs.

In short, Allianz Business Shield serves to protect the business that its owners have worked hard to build, providing them with the confidence and peace of mind to focus on growing the business for the future.

Discover how Allianz Business Shield can help protect your business today. Reach out to any Allianz Authorised Agents to obtain professional advice on the coverage required or visit www.allianz.com.my.