EP004 – Insure Your Profits with Trevor Cornbill, Daniel Welling & Adam Morris

Welcome to the fourth episode of It's a Numbers Game Podcast by The MSP Finance Team with Daniel Welling & Adam Morris.  We created It's a Numbers Game Podcast to help MSP owners learn and understand how to build and maintain a financially healthy MSP business. In this podcast series, MSP business owners like you will learn the fundamental steps, tips, and tricks, and the dos and don'ts to achieve MSP financial growth.  In this episode, we are joined by an insurance expert, Trevor Cornbill of Morrison Insurance Solutions, in which we all talk about insurance and how it helps your MSP business.  Insurance is particularly seen as an inherently boring subject until you need it, and it becomes the most crucial and, in some cases, be the lifeblood of your business because, during a crucial time, you want to make sure that you mitigate the costs that are involved in a claim.  We start off talking about choosing a good broker, how to choose them, and where to look. Trevor says that it's a personal choice. He then weighs the difference between larger brokers and smaller brokers.   We all then talk about the basics, specifically the types of insurance that MSPs could and should have as the minimum to insure their profits. Trevor discusses his recommendations for MSPs of different sizes and needs.  Then we talk about the coverage, terms and conditions, and Professional Indemnity, as Trevor enlightens us on what it is and what it entails.    We continued on to talk about Cyber Insurance. Trevor explains what it is, and how MSPs can get it.  Trevor highlights that insurance is about the mitigation of losses. It's about what risk you're prepared to take and what measures you have in place to support you "in the event of an event".  Lastly, we talk about how people like Trevor effectively help their MSP clients help clients with their own insurance requirements.   We hope you enjoyed this episode, see you on the next one!    Connect with Trevor Cornbill on LinkedIn by clicking here – https://uk.linkedin.com/in/trevorcornbill     Connect with Daniel Welling on LinkedIn by clicking here – https://www.linkedin.com/in/daniel-welling-54659715/    Connect with Adam Morris on LinkedIn by clicking here – https://www.linkedin.com/in/adamcmorris/    Visit The MSP Finance Team website, simply click here – https://www.mspfinanceteam.com/      We look forward to catching up with you on the next one. Stay tuned!