Remove Broker-Agent Remove Financial Loss Remove General Liability
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Top 6 Insurance Policies Every IT Business in California Should Have

Jackson & Jackson

Professional Liability Insurance protects your business against claims of negligence, errors, or omissions that result in financial losses for your clients. General Liability Insurance Even in a digital world, physical risks exist. One oversight could lead to costly lawsuits.

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Can Both the Contractor and Property Owner Be Named Insureds on a Builder’s Risk Policy?

Distinguished

Financial Interest and Named Insureds In a typical Builder’s Risk policy , the named insured is the entity that has a financial interest in the construction project. This could be the contractor, developer, or property owner, depending on who stands to suffer a financial loss if the property is damaged during construction.

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Builder’s Risk Insurance Declinations: An Interview With Susan DeCarlo

Distinguished

And regarding coverage, if the named insured is the builder, or there is a relationship between the named insured and the builder, in that capacity we would exclude general liability coverage. We had an insured recently where we were at the max 24 months when the broker requested a three-month extension.

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Emerging Property Insurance Trends 2024

Property Insurance Centre

This ensures that insured properties are adequately valued and properly insured, reducing the risk of financial loss in the event of a claim. This is a significant concern as it leaves property owners vulnerable to potential financial losses in the event of a claim.