Reesby Academy · Business & Entrepreneurship
Business Risk and Insurance Basics
General overview of business risk and insurance concepts.
About this course
Every business faces risks, from customer disputes to equipment damage, and insurance is one way to manage some of them. This course introduces a simple way to identify and rank risks, the general types of business insurance and when to seek advice. It is general information only, not financial, legal or insurance advice, so speak with a licensed adviser about your own situation.
What you will be able to do
- You'll be able to identify common risks facing small businesses
- You'll be able to describe the general types of business insurance
- You'll be able to assess risks by likelihood and impact
- You'll be able to know when to seek licensed advice on cover
Course outline
- Tools you'll need5 min · Lesson notes, example, action task · 2-question quizRisk management needs a simple register and a few records, not specialist software. Start with a spreadsheet and keep a folder of key documents you already have.
- Understanding Business Risk8 min · Lesson notes, example, action task · 2-question quizBusiness risk is anything that could stop you achieving your goals, from a key customer leaving to a fire at your premises. Understanding the types of risk helps you decide which ones to manage first.
- Common Small Business Risks8 min · Lesson notes, example, action task · 2-question quizMany small businesses face the same handful of risks. Knowing these common examples gives you a checklist to review against your own operations.
- Types of Business Insurance8 min · Lesson notes, example, action task · 2-question quizBusiness insurance comes in many forms, each covering different risks. This is a general overview of common types. Policies differ in what they cover, what they exclude and what they cost, so always read the actual policy wording.
- Assessing Risk Simply8 min · Lesson notes, example, action task · 2-question quizA simple risk assessment rates each risk by how likely it is and how serious it would be, then decides what to do. A basic rating system is enough for most small businesses.
- When to Seek Licensed Advice8 min · Lesson notes, example, action task · 2-question quizSome decisions about insurance and risk need a licensed professional. Knowing when to seek advice, and how to prepare for it, saves money and prevents gaps in cover.
- Careers & next steps5 min · Lesson notes, example, action task · 2-question quizRisk, insurance and compliance skills are needed across finance, operations and governance. These roles usually need formal training and licensing, which this course does not provide.
- Final quiz and certificate10 questions, pass mark 8 of 10. Pass to get your Reesby Academy certificate with a verification link.