Business Insurance Damage Insurance Industry 
InsuredMine
DECEMBER 26, 2024
Climate change poses an extraordinary challenge for businesses, insurers, and governments alike, making the task of adapting and building resilience feel almost overwhelming. Of this, flooding accounted for approximately $82 billion in damages, yet only $13 billion was covered by insurance, as reported by insurance firm Aon.
Protect Commercial Insurance
DECEMBER 6, 2024
Introduction The world of commercial insurance is constantly evolving, adapting to meet the changing needs of businesses. As we inch closer to 2025, several trends are emerging that promise to reshape the landscape of business insurance. By the 20th century, the insurance industry began to reflect broader societal shifts.
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Bankers Insurance
NOVEMBER 15, 2023
How to Protect your Business Against Frozen Pipes and Sprinkler Systems In the winter season, businesses encounter unique property challenges, notably the potential for frozen pipes and sprinkler systems. These issues can lead to expensive damage, operational disruptions, and potential safety hazards.
Triple-I: Business Insurance
AUGUST 16, 2022
Source: International Chamber of Commerce/International Maritime Bureau (IMB) Many people outside the maritime and insurance industries don’t realize that piracy remains a costly peril in the 21 st century. Global insurer Zurich estimates the annual cost of piracy to the global economy at $12 billion a year.
Bankers Insurance
AUGUST 8, 2024
For example, if an insured’s property is valued at $1 million, but their coverage limit is $700,000 and their policy includes an 80% coinsurance clause, they would likely receive only $43,750 after incurring $50,000 in property damage from a covered event, depending on when their deductible is applied (700,000/800,000) x 50,000 = 43,750).
Triple-I: Workers Compensation
APRIL 20, 2021
Similar federal “safe harbor” legislation for the insurance industry – the Clarifying Law Around Insurance of Marijuana Act (CLAIM Act) – was introduced last month. Easier to operate Passage of these laws would make it easier for cannabis-related businesses to operate.
Bankers Insurance
MAY 8, 2024
Hurricanes are capable of producing winds in excess of 155 mph and causing catastrophic damage to coastlines and several hundred miles inland. Additionally, hurricanes can also lead to storm surges along the coast and cause extensive damage from heavy rainfall. This will reduce roof damage. Inspect your home for damage.
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