Episode 2 – Released
As Jack, Bryn, Olivia, Derek and Aaron face uncertainty about their future, Gemini Corp CEO, Andy Corvell (Craig Bierko) calls an all-hands meeting. With lay-offs looming, tensions rise and the group wonders, if they do get fired – what’s next?
Hiscox Commentary on Small Business Insurance
Believing in yourself and the potential of your business idea are two of the essential character traits behind becoming a successful small business owner. Jack already has this belief in himself and now he’s bringing his friends around by inspiring them to take the leap. Getting laid off isn’t a great experience for anyone but it is a good time to re-evaluate what you want. In fact in our research, 15 per cent of founders of small businesses in the US* said they started their businesses after being laid off as they felt it was the right time to go for it.
In our story, Jack takes the initiative to bring the group’s entrepreneurial dreams to fruition by getting an office for everybody to work from. But in the real world, it’s not usually the case for the many startups that grow out of a spare room at home. Home, sweet home can all too easily become business, sour business if the right insurance isn’t in place from the outset and the worst happens. Most homeowners’ insurance policies do not provide coverage for things like business equipment and won’t cover you if you make a mistake in your professional services and your client decides to sue you. That’s where small business insurance comes in handy.
On the flip side, if you’ve taken the leap and rented or purchased an office like Jack and his friends, you need to think about what happens if someone hurts themselves at your office. Everybody has heard of people who slip at the supermarket and then sue for compensation, right? If you’re inviting people into your workspace, this scenario really could happen. You would be amazed at some of the lawsuits that have many businesses across the U.S. in dire straights. The Leap Year characters can protect themselves from these hazards by getting general liability insurance for their office. Not only would this help protect their liabilities when people visit their offices, but it would also cover them while they are out and about turning their ideas into realities.
* Hiscox commissioned research with Opinium Research among 304 owners, partners and senior decision makers from US companies with 1 to 249 employees between the 18th of May and the 1st of June 2011.
Coverage descriptions and claims examples are provided for illustrative purposes only and are subject to the applicable policy limits, deductibles, exclusions, terms and conditions of your policy. Not all insurance products and services are available in all states. All insurance policies issued by Hiscox are subject to underwriting.