Ever wished you could open a small resort to capitalise on the natural beauty around you? In keeping with the YOLO spirit, one such business entrepreneur did just that in Ranau, Sabah over 1000m above sea-level and close to Mount Kinabalu, Malaysia’s highest peak.
Running a resort entails paying for employee salaries, utilities, vendors’ bills for food/beverage and the upkeep of the hotel. As an entrepreneur, living your dream comes with costs plus risks in the event anything disrupts the running of the resort.
On a fateful day in June, this popular holiday resort was struck by an earthquake at Mount Kinabalu which led to structural damage to the property. Guests began leaving; reservations made by guests prior to the disaster were cancelled because of the fear of being injured. The poor business entrepreneur - his world was crumbling and he still had to make payments which were due despite the loss in revenue!
Did the YOLO spirit fizzle out for this entrepreneur? Fortunately, he had purchased insurance from Chubb which provided coverage to help him pay for the damages caused by the earthquake. While the claim was being assessed, estimated to be in the six figure amount, Chubb made an interim payment of a quarter of that to the entrepreneur so that he could commence repair works and resume operations as soon as possible.
You only live once, so take the risks but remember that Chubb journeys with you to mitigate your risks so you can live life to the fullest and succeed!