The Property Insurance Law Observer

SEPTEMBER 23, 2024

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]

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Damage Business Interruption Property Damage Policy 130

Prof. Allan Manning

FEBRUARY 24, 2023

A number of pre loss services are also provided by the LMI Group, including Business Interruption Sum Insured Reviews, Policy Drafting, Insurance Program Reviews, Risk Surveys, and Risk Engineering Services along with Business Continuity Management Services, and Cyber Security Reviews.

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Insurance Industry Business Interruption Claim Insurer 130

Property Insurance Centre

FEBRUARY 10, 2025

Lets break down the perils typically included in standard policies and additional coverages that businesses might consider. Video Common Perils Covered by Commercial Property Insurance Most commercial property insurance policies cover a broad range of risks, often referred to as “named perils.”

Commercial Property 52

Commercial Property Property Insurance Commercial Boiler and Machinery 52

Protect Commercial Insurance

MAY 24, 2024

As a business owner, it’s crucial to protect your business from potential risks and liabilities. 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.

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Insurance Policy Protection Policy Business Interruption 52

Distinguished

FEBRUARY 24, 2025

From understanding local exposures to leveraging tailored package policies, youll gain the insider knowledge needed to win your clients trust and business. Food spoilage and contamination coverage: Compensates for losses due to spoiled inventory or business interruptions caused by foodborne illness.

Liability 52

Liability Liability Insurance Insurer Insured 52

Insurance Journal

SEPTEMBER 6, 2024

The owners of London’s ExCel conference center on Friday won an appeal brought by insurers, including Allianz, over pandemic-related losses, which its lawyers said could help thousands of other policyholders. London International Exhibition Centre Plc took legal action at London’s …

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Policyholder Insurer Insured Insurance 264

Insurance Journal

OCTOBER 1, 2024

CONYERS, Ga. (AP) AP) — Some residents east of Atlanta were evacuated while others were told to shelter in place Sunday to avoid contaminants from a chemical plant fire that sent a massive plume of dark smoke high into the sky …

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Business Interruption Policy Liability Insurer 279

Insurance Journal

DECEMBER 15, 2024

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 …

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Insurance Carrier Claim Business Interruption Insurer 246

Jackson & Jackson

APRIL 28, 2024

Ensure your policy covers replacement costs rather than actual cash value, as this accounts for the depreciation of your assets. Mistake 2: Overlooking Additional Necessary Coverages Standard property insurance policies do not cover everything. Think about business interruption insurance to protect your income stream during repairs.

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Business Interruption Out-Of-Pocket Expense Out-Of-Pocket Broker-Agent 52

ProWriters

OCTOBER 2, 2024

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. Helping your clients understand cyber risks and Cyber Insurance policy jargon can be challenging. What Is a Cyber Insurance Broker?

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Insurance Broker Cyber Broker Protection 86

Protect Commercial Insurance

MAY 30, 2024

Professional liability insurance , also known as errors and omissions insurance, is crucial for service-based businesses and protects against claims of negligence or inadequate work. It provides coverage for lost income, ongoing expenses, and additional costs incurred during the period of interruption.

Cyber 52

Cyber Business Insurance Business Interruption Professional Liability Insurance 52

Jackson & Jackson

APRIL 10, 2024

Make sure to understand the specific perils covered by your policy, as not all natural disasters might be included. Business Interruption Insurance Unexpected events can disrupt your operations, leading to significant financial loss. Shop around and compare different policies to find the best coverage at a reasonable price.

Commercial Property 52

Commercial Property Commercial Business Interruption Out-Of-Pocket Expense 52

Paragon Independent Insurance Agencies

MAY 27, 2024

Commercial Insurance Information Commercial insurance consists of policies to safeguard businesses when financial losses are inevitable. These events may include property damage, liability claims from work-related injuries, break-ins, or business interruption. It is critical to understand how to determine what is covered.

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Commercial Insurance Commercial Protection Business Interruption 40

Mark Jackson Insurance Agency

MAY 21, 2024

Home Office Desk by Ken Tomita The rise of home-based businesses has been one of the most significant shifts in the modern work landscape. While operating a business from home offers convenience and flexibility, it also necessitates careful consideration of insurance needs.

Liability 52

Liability Business Interruption Professional Liability Insurance Home Insurance 52

Mark Jackson Insurance Agency

NOVEMBER 22, 2024

While your business may only operate for part of the year, risks like property damage, liability claims, or equipment theft don’t follow a calendar. Having the right insurance policies in place ensures your business is protected even during the offseason. Insurance needs evolve as your business grows.

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Business Interruption Theft Liability Insurer 52

Protect Commercial Insurance

JANUARY 21, 2021

FCA Test Case: Response of non-damage business interruption extensions to COVID-19 losses Supreme Court Decision: Update 19 January 2021 The Supreme Court judgment in the FCA Business Interruption Test Case was published on Friday 15 January 2021.

Business Interruption 52

Business Interruption Policyholder Claim Commercial 52

Cowbell

SEPTEMBER 23, 2024

Employees who believe that they are exempt from their organization’s security policies and bypass them. Protect Organizations need to protect their users and devices by enforcing security policies and securing their data. They are often targeted by attackers through social engineering or spear-phishing campaigns.

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Cyber Business Interruption Risk Protection 104

Jackson & Jackson

APRIL 26, 2024

It provides coverage for physical damage to your property and any loss of income due to business interruption. Special considerations are needed for earthquake and flood coverage, as these are typically not included in standard policies.

Commercial Property 52

Commercial Property Property Insurance Commercial Business Interruption 52

Prof. Allan Manning

FEBRUARY 28, 2024

With this background and as a follow up to yesterday’s post on the need for a review of sub-limits, I do urge everyone to carefully consider the length of the Indemnity Period on client’s policies. That is why we developed LMI ContinuityCoach.

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Risk Management Monitor

JUNE 13, 2023

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 business interruption insurance. Update your current disaster recovery plan. Do a dry run.

Business Interruption 40

Business Interruption Claim Risk Insurance Policy 40

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.

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Insurance Industry Business Interruption Commercial Property Commercial 52

Mark Jackson Insurance Agency

DECEMBER 16, 2024

Taking the time to review and update your policies now can save you from unexpected headaches and ensure your business is ready for whatever comes next. Why a Year-End Insurance Review Matters Business insurance isnt just about protection – its about peace of mind.

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Business Insurance Liability Cyber Business Interruption 52

Paragon Independent Insurance Agencies

NOVEMBER 15, 2024

It covers claims of negligence or mistakes in the services you provide, helping maintain your business’s reputation and financial stability. Why Business Interruption Insurance Matters Business interruption insurance is your safety net during unforeseen events that pause your operations.

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Business Insurance Business Interruption Professional Liability Insurance General Liability 40

Protect Commercial Insurance

JULY 26, 2024

In this article, we will provide you with four essential tips to help you understand your coverage needs, find the best rates, review and update your policy regularly, and work with an experienced insurance broker. Insurers often provide discounts for bundling multiple policies, which can help you save on premiums. Let’s dive in!

Commercial 52

Commercial Insurance Broker General Liability Business Interruption 52

Paragon Independent Insurance Agencies

DECEMBER 16, 2024

Cyber liability insurance from Paragon Independent Insurance Agency can provide the safeguard you need to protect your investments, assets, and reputation where traditional insurance policies may fall short. Some cyber liability insurance policies also provide mitigation support when tackling negative publicity.

Commercial Property 40

Commercial Property Liability Insurance Cyber Liability 40

Protect Commercial Insurance

JUNE 27, 2024

Insurance policies such as property, liability, and professional indemnity can provide a crucial safety net, making it essential for businesses of all sizes. Thus, investing in the appropriate insurance policies ensures that small businesses can survive adverse events and maintain continuity.

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Commercial Insurance Commercial Cyber Business Interruption 52

ProWriters

MAY 28, 2024

Read on for information you can use about cyber risks contractors face—as well as how a strong Cyber Insurance policy can help protect them. Business Interruption Exposure Business interruption coverage compensates contractors for the income they lose as a result of a cyber event.

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Cyber Business Interruption Insurer Insured 52

Property Insurance Centre

JANUARY 16, 2025

Flood damage can include physical destruction of property, inventory loss, and business interruption costs, making insurance a vital component of risk management. Business Interruption: Compensation for lost income during downtime caused by flooding. Contents Coverage: Protection for stock, inventory, and furnishings.

Commercial 52

Commercial Commercial Property Insurer Insured 52

Protect Commercial Insurance

NOVEMBER 15, 2024

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. Understanding Economic Uncertainty In the ever-evolving world of business, economic uncertainty is a term that often pops up.

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Commercial Insurance Commercial Protection Business Interruption 52

LexisNexis

AUGUST 27, 2024

Learn about the steps businesses should take to recover on the business interruption, including contract and indemnity claims, caused by this software failure. Cybersecurity Insurance Policies Review Checklist Discover key issues and risks that should be considered when reviewing a cybersecurity insurance policy.

Cyber 40

Cyber Business Interruption Insurance Policy Insurance Carrier 40

Hunton Andrews Kurth

MARCH 11, 2021

is noteworthy due to the great lengths taken to define a policy provision regarding coverage related to food contamination. Given the heightened risk to its business posed by a disruption stemming from food contamination, Nashville Underground purchased a special coverage for business interruption due to “Food Contamination.”

Business Interruption 52

Business Interruption Injury Policy Protection 52

Distinguished

OCTOBER 30, 2024

While Builder’s Risk policies for both types of projects offer similar coverage, such as insuring for damage to the structure from fire, theft, and other covered perils, there are important distinctions between residential and commercial coverage. We offer 3-, 6-, 9-, or 12-month policies, with extensions available upon review.

Commercial 52

Commercial Risk Broker-Agent Inland Marine 52

Risk Management Monitor

MARCH 4, 2022

A wide range of risks are trickling down from Russia’s assault on Ukraine , from sanctions compliance to supply chain disruption to business interruption. Remind employees about these perils and offer refreshers on how to spot phishing scams and the need to exercise caution with links in emails or on social media. “In

Cyber 56

Cyber Business Interruption Risk Policy 56

ProWriters

NOVEMBER 17, 2024

Policies can help cover the costs of ransom payments, data recovery, business interruptions, and more. Consistent awareness programs can greatly enhance an organization’s security posture. Carry Cyber Insurance Cyber Liability Insurance provides an additional layer of financial protection against ransomware attacks.

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Cyber Insurer Insured Insurance 83

Protect Commercial Insurance

NOVEMBER 22, 2024

However, many providers offer affordable options designed specifically for small businesses. You can choose from a range of policies that include basic coverage to keep costs down. So, there’s a policy out there to suit just about every budget. Investing in the right policy can save you a lot of money in the long run.

Commercial Insurance 52

Commercial Insurance Commercial Cyber Insurer 52

Triple-I: Business Insurance

APRIL 24, 2023

Investment in a lightning protection system could have saved this business owner – and his insurer – the million dollars lost and prevented business interruption. Nearly $1 billion in lightning claims was paid out in 2018 to almost 78,000 policy holders, according to LPI.

Risk 52

Risk Business Interruption Damage Protection 52

Protect Commercial Insurance

OCTOBER 25, 2024

Introduction When it comes to safeguarding your business, selecting the right insurance policy is crucial. It can be quite a daunting task with so many options out there, and understanding each policy’s intricacies is essential for your peace of mind and financial wellbeing. What is your budget for business insurance?

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Business Insurance Liability Insurance Liability Insurer 52