The Property Insurance Law Observer

AUGUST 22, 2024

2024), the District Court of Massachusetts found that “collapse” provisions within a commercial property policy were ambiguous where a floor merely sagged without completely falling to the ground. During the policy period, the insured’s floor “sunk” between eight to 12 inches. LEXIS 127718 (D. 629 F.Supp.2d 2d 1185 (D.

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Property Insurance Centre

SEPTEMBER 25, 2024

Top Building Insurance Pitfalls Here are some common pitfalls to avoid when getting building insurance in the UK: – Underinsuring. Insure your building at the amount that it will cost to rebuild it and not at the current market value when securing block of flats insurance. – Not considering inflation.

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Jackson & Jackson

MAY 22, 2024

Multi-unit commercial properties in California offer investors the potential for significant returns. Investors must understand the importance of securing comprehensive commercial property insurance coverage to protect their investments. It covers property damage, loss of income, liability claims, etc.

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The Property Insurance Law Observer

AUGUST 1, 2024

23, 2024), the Supreme Judicial Court of Massachusetts held that the term “surface waters,” as used in a limitation contained in commercial property insurance policies, was ambiguous in the context of rainwater accumulating on roofs, thereby finding coverage for the insured.

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Zywave

NOVEMBER 20, 2024

Now is the time to build a winning strategy to secure success. Commercial Lines Trends Cyber: AI continues to be top of mind for those in the cyber market. Commercial Property: Extreme weather events continue to lead to extreme property damage. All of these factors contribute to ongoing rate increases.

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Protect Commercial Insurance

MAY 24, 2024

Commercial Property Insurance While many businesses have property insurance, they often overlook the importance of commercial property insurance. At Protect Commercial, we specialise in providing comprehensive insurance solutions tailored to the unique needs of your business.

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Property Insurance Centre

JANUARY 4, 2024

The property insurance sector is no exception, as inflation directly impacts key cost drivers such as property valuations , construction costs , and labour. The rising costs of building or repairing properties have a direct effect on insurance premiums.

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Property Insurance Centre

NOVEMBER 11, 2024

For example, many commercial buildings and retail business will often have large theft excesses applied, as a result of theft & malicious damage claims. Insurers will not ask to see a copy of the Certificate when you start cover, but will do so in the event of a fire at the property when you need to make a claim.

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Insurance Journal

JULY 11, 2024

A new Vermont-based captive insurer is promising to provide insurance for New York affordable rental housing buildings at a time when advocates say coverage is difficult to afford or obtain. The Milford Street Association Captive Insurance Co. will be owned …

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Cover4LetProperty

APRIL 16, 2024

They can range from individual property owners to those who own multiple rental properties as part of their investment portfolio. Corporate landlords: These are companies or organisations that own and manage rental properties on a larger scale. They may own residential properties, commercial properties, or a combination of both.

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Property Insurance Centre

OCTOBER 18, 2024

Insurers are increasingly calling for government intervention, including improved flood defences and stricter planning regulations to prevent building in high-risk areas​ Home | ABI. For more detailed insights, refer to the Association of British Insurers and Imperial College London’s Grantham Institute.

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Distinguished

AUGUST 26, 2024

Under-construction buildings can be prone to fire, vandalism, and theft, which can end up costing their backers and owners millions. Distinguished’s Builder’s Risk Program covers all kinds of buildings in Michigan, including single-family homes , mixed-use buildings , and commercial properties.

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Property Insurance Centre

JULY 21, 2024

Aspray’s exemplary performance serves as an inspiration, showcasing the impact of dedication, expertise, and a client-centric approach in achieving excellence in loss assessment and claims management.

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Property Insurance Centre

MAY 20, 2024

Importance of Accurate Declared Value It is vital that the block management company ensures the flats are insured for the correct rebuilding cost , as this value can increase each year depending on rising costs of materials and labour, as well as new building regulations.

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Property Insurance Centre

AUGUST 28, 2024

This approach applies to all customers who hold Property Insurance Centre Commercial Policies. It is important that you do contact us first as every insurer differs.

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Property Insurance Centre

SEPTEMBER 11, 2024

Such cover may include the following: Removing Debris Dismantling or Demolishing Shoring up or Propping of equipment Please contact us if you would like to discuss your options or if you would like to add a Lift Insurance Policy to your Purpose Built Block of Flats Insurance Policy.

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Property Insurance Centre

AUGUST 8, 2024

However, if it goes more long term the insurers can at worst pull cover entirely leaving you to search the market for an alternative, or perhaps apply more stringent conditions and charge a rather large additional premium – usually refundable on a pro-rata basis, assuming you are able to let the property out again!

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Distinguished

SEPTEMBER 25, 2024

Whether it’s a construction project for a single-family home , a mixed-use building , or a commercial property, Distinguished’s Builder’s Risk Program has got it covered. Property damage : Damages to the building that is being constructed or renovated. What Does Distinguished’s Builder’s Risk Cover?

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Distinguished

SEPTEMBER 10, 2024

This includes projects that involve: Betterments Renovations New Construction We also insure a variety of building types, including single-family homes , mixed-use buildings , and commercial properties. Distinguished’s Builder’s Risk program insures a variety of the most common construction projects.

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Property Insurance Centre

JANUARY 30, 2024

That’s why it’s essential to choose a specialised block of flats insurance policy that covers the specific needs of your property. Block of flats insurance typically focuses on buildings insurance , which covers the physical structure of the property. Buildings insurance covers the physical structure of the property.

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Property Insurance Centre

JULY 30, 2024

Arrange Landlord Insurance Coverage Landlords need to get the right kind of insurance for their rental properties. This includes insurance for the building itself, liability risks, and coverage for lost rental income. Also, loans for building new rentals might have higher interest rates as they’re being built.

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Majesco

APRIL 11, 2024

US commercial Property and Casualty insurers have obtained incredibly high results in avoiding water, non-weather losses, using IoT solutions for risk prevention. These are still missed opportunities if insurers aren’t taking advantage of them, and they represent a large portion of the portfolio of commercial property insurers.

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Property Insurance Centre

MARCH 19, 2024

“Insurance companies should prioritize consumer education to build trust and ensure policyholders understand their rights and responsibilities. This proactive approach builds trust and loyalty among policyholders, who appreciate the effort put into empowering them with knowledge and resources.

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