Triple-I: Business Insurance

OCTOBER 1, 2024

Another way the insurance industry would be affected is from losses from coverage protecting against adverse business costs of events, such as strikes. These coverages include, but are not limited to, business interruption, political risk, credit, supply-chain insurance, and some marine and cargo.

Insurance Industry 52

Insurance Industry Business Interruption Commercial Property Commercial 52

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).

Commercial Property 59

Commercial Property Property Insurance Commercial Out-Of-Pocket 59

Bankers Insurance

JULY 8, 2024

In most cases, the deductible requires the insured to pay about 10 percent of any loss. A basic K&R policy includes such things as hostage negotiations, ransom payment, loss of income, interest on bank loans and medical/psychiatric care.

Insurance 52

Insurance Insurer Insured Workers Compensation 52

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.

Risk 40

Risk Workers Compensation Commercial General Liability Liability 40