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Descartes Underwriting has announced the launch of a parametric insurance product to protect utility-scale solar farms against tornado damage. According to a press release, the coverage uses satellite data and analytics to insure transition-sector investments against physical damage, businessinterruption …
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.
Food spoilage and contamination coverage: Compensates for losses due to spoiled inventory or businessinterruptions caused by foodborne illness. When determining the price of a policy, our underwriters will look at factors such as the restaurants size, location, type of services offered, and additional coverage needs.
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 businessinterruption. Insurance providers offer customizable coverage options.
These products will become increasingly sophisticated, utilizing real-time data from sensors and satellites to offer protection against various risks, from natural disasters to businessinterruption. The appeal lies in their transparency and rapid claims settlement, eliminating the need for lengthy claims assessment processes.
As we look towards 2025, businesses are keenly aware of the potential for future global health crises. Insurance products addressing pandemic risks will likely evolve to include integrated response plansspanning businessinterruption, supply chain disruption, and employee health coverage.
Additionally, it can provide coverage for businessinterruption, tenant improvements, and liability claims arising from third-party injuries or property damage on the premises. For instance, a policy might cover repairing or replacing a roof damaged by a storm or the value of stolen office equipment.
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