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Opinions expressed by Entrepreneur contributors are their own. You've likely pursued traditional business insurance. But when it comes to protecting your business from a myriad of outside threats in today's complex and ever-changing environment, is traditional insurance enough — or even the right fit? With the hardening of the insurance market and costly premiums , it's a timely question, especially as more and more businesses are looking to alternative risk transfer. And an increasingly trending option is captive insurance as worldwide more than 100 captives formed last year as reported by Business Insider . Related: 4 Ways to Protect Your Business From Inflation Background of traditional and captive insurance Traditional insurance has built up a portfolio of coverage offerings and options for businesses. Some components of traditional insurance include risk distribution, tax deductibles on premiums and many blanket insurance coverages such as gener...

Opinions expressed by Entrepreneur contributors are their own. Consumers are increasingly exhibiting preferences for ethical products, transparency, sustainable practices, personalization, convenience and digitization — and it's driving big changes across the retail industry as brands take note and adapt. Across the board, consumer expectations are raising the bar for retailers. This leaves leaders with two choices: hesitate, reach a tipping point and be forced to pivot (and risk losing customers along the way), or stay in sync with consumers and make impactful operational changes now. On the logistics front, here are three ways retailers can embrace consumer cues on sustainability, transparency and customer service in 2023 and beyond: 1. Sustainable shipping Consumers have come to expect environmental responsibility from the brands they shop. Across generations, consumers are even willing to pay more for sustainable products. In fact, 90% of Gen Z consumers...

Opinions expressed by Entrepreneur contributors are their own. Running a business is expensive, but shifting to a sustainable, more environmentally friendly strategy could lower your operating cost by as much as 60%. U.S.-based companies can also benefit from tax breaks and rebates for incorporating sustainable practices . You could hire a sustainability expert to consult on your business practices, or you could become one yourself. The 2023 Complete Renewable and Electrical Energy Engineer Preparation Bundle could help you stay informed on the latest sustainable-energy practices you can use in your business. StackCommerce This 38-hour informational bundle may help you create large and small-scale changes in your business. An understanding of wind turbines could help you invest in green energy solutions. A few lessons in the Basics of Solar Energy course may help you c...