The United States is one of the leaders in the global gaming industry. Nevada is at the heart of this with multiple casino properties throughout the state. These properties can feature everything from blackjack tables to sportsbooks allowing money to pass through many hands. As a business owner, your insurance needs to cover employee and patron gaming risks. Make sure the house always wins with these coverage options.
Cyber Liability Coverage
The world of gaming holds a vast amount of information about players and casinos. Without coverage, you could be at risk of data breaches, damages to a third-party system, system failure, cyber extortion, and general business interruption. Your cyber liability insurance needs to protect the data from your players and your employees. Additionally, you can protect yourself by keeping backups of data, regularly changing passwords, updating antivirus software and consulting with an IT professional to review your system securities.
Workers’ Compensation
In the state of Nevada, workers’ compensation is mandatory. These policies ensure your employees are protected while on the job. The insurance packages include coverage for injured worker’s medical bills, rehabilitation costs, and lost wages. As the employer, you are responsible for providing coverage for injuries, paying premiums, providing a safe environment, investigating injuries, and alerting your insurance carrier at the time of the injury. Keeping a large number of employees safe and covered can be overwhelming and costly. Consider speaking with a Swarts Manning team member to find the right plan for you.
Property Coverage
Basic property insurance covers losses from fire and lightning. With thousands of patrons and employees walking through your casino doors daily, you may need a more extensive package. A standard policy still covers the costs of repairs from fire and lightning but also covers extended circumstances like smoke, civil commotions, and vehicle damages to your property. Additional options include vandalism and malicious mischief. We recommend speaking with a professional insurance designer to help you identify which coverages your property needs.
Don’t gamble with insurance for your gaming business. In addition to the above coverages, you may also want to consider crime and fidelity coverage. In a cash-based environment, this coverage is essential. It will protect your business from employee theft. Consult with a professional and make sure your property and people are covered in every area.
At Swarts, Manning & Associates, we provide a unique perspective on all of your commercial coverage options, and we help to determine which carrier best fits your business needs. We strive to find you the broadest coverage at the best available rate. Give us a call to get started: (833) 878-2820.
Each week, Swarts, Manning & Associates covers relevant topics for your business. Stay tuned to hear more discussions about managing your insurance and industry-specific tips.
