This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Insurers could face a raft of businessinterruptionclaims after a worldwide tech outage crippled industries from travel to finance on Friday, insurance industry experts said. A software update by global cybersecurity firm CrowdStrike appeared to have triggered systems problems …
I recall the very first businessinterruptionclaim I did was for a risk in Toowoomba and to my horror found that the Insured had only declared 3 months insurable gross profit with a 3-month Indemnity Period. In fact, around 75% of interruptionclaims by number have an Indemnity Period of less than 3 months.
Two Philadelphia professional sports team have lost their appeals over denied businessinterruptioninsuranceclaims tied to the COVID-19 pandemic. District Judge Michael Baylson this week dismissed lawsuits by the Philadelphia 76ers basketball team and the Philadelphia Eagles football …
Many property adjusters and policyholders often think of business income and interruptionclaims as being solely an accounting function. appeared first on Property Insurance Coverage Law Blog. This is not true because there must be a determination of the “period of restoration.”
Realising the importance of ongoing learning, LMI held their annual conference for the claims team in Sydney last week. During the conference it was appropriate to acknowledge and present 10 year service awards to Caroline Stevens from LMI Forensics and Georg Froeschl from LMI Claims.
Insured losses from recent riots in the United Kingdom are expected to remain at manageable levels with a limited impact on insurers’ credit profiles, according to credit agency Morningstar DBRS, in a market commentary. The main reason for manageable claims …
The Philadelphia Eagles football team has lost its bid for federal court reconsideration of the dismissal of the team’s claim for insurance coverage for COVID-19 losses. The Eagles tossed a red flag in November after the federal district for Eastern …
LMI continues to grow in claims work and as a result both LMI Group and Aequum Adjusters are looking to hire loss adjusters and or claims preparers in virtually every state and territory in Australia and New Zealand. The positions range from trainee, to highly experienced.
Insurers have failed to win dismissal of a federal COVID-19 businessinterruption lawsuit against them by the luxury hotel chain Mandarin Oriental. Judge John P. Cronan of U.S District Court in New York found that endorsement language about coverage for …
A Connecticut-based manufacturer has been denied another opportunity to seek $100 million in insurance coverage for business losses it claims it sustained because of the COVID-19 virus. Amphenol Corp.– a manufacturer of connectors, antennas, sensors, and high-speed specialty cable – …
Having attended every major natural catastrophe as LMI since 1999, both LMI Group and Aequum Adjusters have activated their respective Catastrophe Response plans putting in place the resources required to respond to the expected claims from Cyclone Alfred.
A cannabis growing company has lost its bid to have its insurer cover $1.3 million in claimedbusiness income losses after a building fire damaged almost 1,000 of its marijuana plants and shuttered one of its “flowering” rooms. A federal …
During that time we have assisted thousands of claimants with their claims, and introduced world leading online services that take the lessons learned from claims, and use them to assist brokers and underwriters be better at their job, and to move the emphasis from price to protection.
Today marks LMI Group’s quarter century of service to the insurance industry and wider communities. February 2000: Development of first Training Module – BusinessInterruption. May 2002: First of now 17 books on insurance and risk management launched. May 2000: First manual Policy Comparisons developed.
Water damage can wreak havoc on commercial properties, leading to costly repairs and business disruptions. At Tosten Marketing, we often hear from business owners wondering about their insurance coverage for such incidents. Commercial property insurance water damage coverage is a complex topic with many nuances.
Courts across the country have overwhelmingly ruled in favor of insurance carriers in claims disputes following the government-ordered closures of businesses during the COVID-19 pandemic. The North Carolina Supreme Court last week bucked that trend, becoming just the second state …
From property protection to liability coverage, ensuring your businessinsurance policies align with your expansion is critical. Heres what to consider from an insurance and risk management perspective when opening a new location. Workers Compensation Insurance to cover employee injuries on the job.
American Guarantee and Liability Insurance Company , the United States District Court for the District of Massachusetts held that a loose bolt or fitting that could be remedied simply by tightening it did not constitute “direct physical loss of or damage” to equipment covered under an all-risk property insurance policy. [1]
Introduction Hello UK business owners! Navigating the world of insurance can feel overwhelming, especially when it comes to understanding commercial property insurance. This friendly guide will walk you through the essentials of commercial property insurance, helping you protect your business premises and assets with confidence.
What Perils Are Covered by Commercial Property Insurance? Commercial property insurance is essential for businesses to protect their assets from unforeseen events. But what exactly does commercial property insurance cover? ” If a peril is explicitly listed in the policy, the insurer will cover the damage it causes.
However, for insurance brokers, the wide spectrum of restaurants represents both a challenge and an opportunity. With thousands of restaurants in Charlotte and across North Carolina, the need for comprehensive insurance coverage is vital. What Does Distinguisheds Restaurant Insurance Cover?
The 2024 Mansfield Awards for Claims Excellence are just over 3 months away and we could really do with your help with ensuring the best of the best win. If you have had a claim yourself or are an adviser who has had a client or clients have a claim, we would really appreciate your taking a few minutes to rate the claims service.
While you may have the basic insurance policies in place, such as property and general liability insurance, there are several other essential insurance policies that you might be overlooking. In this article, we will explore five often overlooked insurance policies that can provide valuable coverage for your business.
In the claims we are handling we are seeing more and more that the Indemnity Period runs out before the business returns to normal. This is due to a number of issues including but not limited to: Inordinate delays by local councils granting approvals. Often for the most ridiculous of reasons.
Modern businesses rely on cloud storage, connected digital devices, and online apps to serve their clients. As an insurance broker, you likely recognize that while these technologies drive business operations, they also increase vulnerability to cyber crime, making Cyber Insurance a necessity for your clients.
Commercial insurance is vital for protecting business property, assets, and operations from various risks and liabilities around Plano, TX. Commercial Insurance Information Commercial insurance consists of policies to safeguard businesses when financial losses are inevitable.
One of the most crucial aspects to consider is commercial property insurance. This guide aims to help new investors understand the basics of commercial property insurance in California, ensuring that their investments are protected against unforeseen events.
Insurance plays a pivotal role in safeguarding your property and your financial future. Here are five critical considerations you should keep in mind regarding insurance when buying or investing in commercial property. Liability Insurance Liability insurance is essential for any commercial property owner.
Investing in property in California is a significant financial decision, and safeguarding your assets with the right insurance is crucial. However, many property investors, especially those new to the field, fall into common traps with their insurance choices. In California, consider adding earthquake and flood insurance.
Experts estimated ransomware attacks were hitting businesses every 11 seconds in 2021. As a Cyber Insurance broker, you need to help your business clients understand the dangers ransomware poses, how to defend against them, and why Cyber Insurance is an indispensable part of any sound security strategy. population.
Navigating the world of businessinsurance can be daunting, especially for new business owners. Here in Plano, TX, Paragon Independent Insurance Agency aims to simplify this process by breaking down essential terms you need to know to protect your business effectively.
While operating a business from home offers convenience and flexibility, it also necessitates careful consideration of insurance needs. Traditional home insurance policies often fall short of covering the unique risks associated with running a business from home.
Surgery schedules around the country may be washed out for several more weeks while a crucial IV and sterile fluids factory remains shut down for hurricane-related damage. People often plan non-emergency surgeries in the fall and early-winter months when their …
Weeks after a chemical warehouse fire in Rockdale County, Georgia, released plumes of toxic smoke, nearby residents can now leave their homes at night after officials lifted a shelter in place order. For the lab’s owner and investors, the trouble …
This is where commercial insurance comes into play. Designed to protect your business from unforeseen risks, commercial insurance can offer the peace of mind you need to focus on what truly matters—growing your business and serving your clients.
Whether you run a landscaping service in the summer, a ski rental shop in the winter, or a holiday-themed retail store, your business has unique insurance needs that differ from typical year-round operations. To protect your livelihood and manage costs effectively, it’s essential to optimize your businessinsurance coverage.
Welcome to our blog post on how to maximise your business growth by securing the right commercial tailors insurance. As a tailor, it is crucial to protect your business from potential risks and liabilities. Property insurance can protect these assets from damage or loss due to fire, theft, or other covered perils.
FCA Test Case: Response of non-damage businessinterruption extensions to COVID-19 losses Supreme Court Decision: Update 19 January 2021 The Supreme Court judgment in the FCA BusinessInterruption Test Case was published on Friday 15 January 2021. Protect Commercial Team.
Post-election protests rocking Mozambique since late October have interrupted trade and hampered a major aluminum smelter, with the southeast African nation braced for more disruption next week. The Constitutional Council is set to validate the disputed vote by Dec. 23 …
Introduction Navigating the world of commercial insurance can feel a bit like wandering through a maze, with myths lurking around every corner. It’s essential for business owners to separate fact from fiction to ensure they have the right protection. Unfortunately, misconceptions can lead to costly mistakes.
Normal 0 false false false EN-US X-NONE X-NONE Normal 0 false false false EN-US X-NONE X-NONE As the hurricane season gets underway, the following tips can help businesses update and strengthen natural disaster recovery plans: Review your businessinterruptioninsurance. Update your current disaster recovery plan.
Understanding Commercial Flood Insurance in the United Kingdom Flooding has become an increasingly significant risk for businesses across the United Kingdom as climate change intensifies weather extremes. Wales: Coastal communities, including those in the Vale of Glamorgan, have experienced storm surges that inundated local businesses.
Introduction Running a business comes with its fair share of expenses, and one of those is commercial insurance. This guide will teach you practical ways to save money on your commercial insurance. It provides protection against a plethora of risks, including property damage, liability claims, theft, and even employee injuries.
Introduction When it comes to safeguarding your business, selecting the right insurance policy is crucial. Let’s explore the pivotal questions to ask when choosing your businessinsurance coverage. By recognising these risks, you root your insurance decisions in the real needs of your business.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content