Property Insurance Centre

FEBRUARY 24, 2025

How a Liability Claim Can Ruin Your Business And How to Protect Yourself No matter how well you run your business, a single liability claim can have devastating consequences. From financial losses to reputational damage, legal battles, and even the risk of shutting down, the impact can be severe.

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Liability Protection Claim Property Insurance 52

Insurance Journal

NOVEMBER 21, 2024

AP) — A combination of severe hurricane damage to Tropicana Field and political delays on financing means it is highly unlikely the Tampa Bay Rays’ planned new stadium will be ready for the 2028 season, if at … PETERSBURG, Fla. (AP)

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Damage Commercial Property Insurance Claim Property Insurance 243

Bankers Insurance

AUGUST 8, 2024

THE IMPORTANCE OF ACCURATE VALUATION IN COMMERCIAL PROPERTY INSURANCE When purchasing or renewing commercial property insurance , it’s important for businesses to ensure their coverage includes correct property valuations. Additionally, property undervaluation can result in coinsurance penalties. inflation).

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Commercial Property Property Insurance Commercial Out-Of-Pocket 59

Protect Commercial Insurance

OCTOBER 11, 2024

Introduction Climate change isn’t just an environmental buzzword; it’s rapidly becoming a pivotal factor in the world of insurance, especially for commercial properties. These disasters cause exponential damage to commercial properties. Parametric insurance, for instance, is gaining traction.

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Commercial Property Commercial Insurance Policy Policy 52

Mark Jackson Insurance Agency

MARCH 19, 2025

From property protection to liability coverage, ensuring your business insurance policies align with your expansion is critical. Without the right coverage, unforeseen challenges—such as property damage, employee injuries, or legal issues—could put your investment at risk.

Workers Compensation 52

Workers Compensation Liability Property Damage Inland Marine Insurance 52

The Property Insurance Law Observer

AUGUST 22, 2024

2024), the District Court of Massachusetts found that “collapse” provisions within a commercial property policy were ambiguous where a floor merely sagged without completely falling to the ground. This prompted the insured to submit a claim. In Life Skills, Inc. Harleysville Insurance Company , 2024 WL 3792261 (D.

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Building Commercial Property Damage Policy 130

American Agents Alliance

APRIL 3, 2025

For example, the cost of repairing damaged property like vehicles and homes could increase because these items rely on imported goods, which will be more expensive after tariffs are increased. This drives up the cost to repair, impacting claims costs. This could cause higher rates in commercial property and homeowners lines.

Agents 52

Agents Policyholder Premium Auto Insurance 52

Paragon Independent Insurance Agencies

FEBRUARY 28, 2025

It helps cover accidents, repairs, and liability claims, ensuring your business isn’t financially burdened by unexpected incidents. Beyond vehicle coverage, you may also need general liability insurance, which protects against third-party claims for injuries or property damage during business operations.

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Commercial Insurance Commercial Insurance Agency General Liability 40

Jackson & Jackson

MAY 22, 2024

Multi-unit commercial properties in California offer investors the potential for significant returns. Investors must understand the importance of securing comprehensive commercial property insurance coverage to protect their investments. It covers property damage, loss of income, liability claims, etc.

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Property Insurance Commercial Property Commercial Insured 52

Property Insurance Centre

JULY 21, 2024

Our Claims Partner, Aspray, Wins Loss Assessor of the Year 2024 We are delighted but not surprised to announce that our claims partner, Aspray, has won the prestigious “Loss Assessor of the Year 2024” award at the British Claims Awards.

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Claim Property Damage Building Property Insurance 52

Protect Commercial Insurance

MAY 24, 2024

General Liability Insurance General liability insurance is a fundamental policy that covers your business against claims of bodily injury, property damage, and personal injury. Additionally, general liability insurance typically does not cover claims related to professional services or cyber incidents.

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Insurance Policy Protection Policy Business Interruption 52

Property Insurance Centre

JANUARY 16, 2025

From the catastrophic floods in Carlisle in 2005 to the more recent deluge in London in 2021, businesses in flood-prone areas have faced disruption, financial losses, and complex insurance claims. This article explores the intricacies of commercial flood insurance in the UK, highlighting regional variations, challenges, and solutions.

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Property Insurance Centre

MARCH 11, 2025

Higher Crime Rates and Security Concerns London experiences more burglary, vandalism, and theft claims compared to rural or suburban areas. Greater Risk of Unoccupied Properties London has a higher number of buy-to-let and overseas-owned properties , many of which remain vacant for long periods.

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Risk Management Monitor

NOVEMBER 8, 2021

One of the first steps in obtaining commercial property insurance is to determine the value of the property being insured. The reported property value will drive premium amounts and, importantly, represents the property loss exposure. The accuracy of this approach will diminish over time.

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Commercial Property Insured Insurance Insurer 75

Property Insurance Centre

JANUARY 4, 2024

Outdated property valuations result in underinsured properties. Weather Conditions and Natural Disasters Since 1980, there have been 360 weather- and climate-related natural catastrophes , resulting in damages and costs of over $2.57 Insureds are facing substantial property losses, leading to increased financial burdens.

Property Insurance 52

Property Insurance Commercial Property Liability Insured 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. If you rely on expensive equipment, such as snowplows, food trucks, or heavy machinery, comprehensive coverage that protects against damage and theft is crucial year-round.

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Business Interruption Theft Liability Insured 52

Property Insurance Centre

OCTOBER 18, 2024

Recent data from 2023 and 2024 highlights the financial strain on insurers and property owners alike, driven by more severe storms, heavy rainfall, and unpredictable weather patterns. Rising Claims Due to Extreme Weather In 2023, UK insurers faced record-breaking claims from weather-related damage.

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Property Insurance Premium Insured Insurance 52

Property Insurance Centre

SEPTEMBER 25, 2024

See what is not covered in terms of events/damage for your policy and think about getting flood insurance or accidental damage insurance if desired. Accidental damage is not usually covered by a normal building insurance policy. Define the maximum amount that you are willing to spend additional in the case of a claim.

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Property Insurance Centre

NOVEMBER 11, 2024

Let’s have a look at them… Don’t claim for everything – One thing insurers do not like, is a policyholder that claims over multiple times a year & for the smallest thing. For example, claiming for one single broken window, may be better served by self-insuring.

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Insured Insurance Insurer Premium 52

Zywave

NOVEMBER 20, 2024

Employers should prioritize mental health resources and clear policies to handle workers’ comp claims as efficiently as possible. Commercial Property: Extreme weather events continue to lead to extreme property damage. Repairing this damage also continues to be more expensive due to inflation.

Workers Comp 52

Workers Comp Commercial Property Cyber Commercial 52

Distinguished

SEPTEMBER 25, 2024

Whether it’s a construction project for a single-family home , a mixed-use building , or a commercial property, Distinguished’s Builder’s Risk Program has got it covered. Vandalism : Intentional damage to the job site by third parties, including things like broken glass or graffiti.

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Risk Broker-Agent Insured Insurance 52

Protect Commercial Insurance

JANUARY 10, 2025

These partnerships not only broaden your client base but also offer a seamless solution to meet customer needs across various policy areas, such as commercial property. Enhancing Commercial Property Offerings One major sector that benefits from robust referral partnerships is commercial property insurance.

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Building Broker Commercial Property Insured 52

Property Insurance Centre

MARCH 19, 2024

Consumer education ensures that individuals are prepared and protected with the proper insurance coverage and are knowledgeable about the claims process. It empowers individuals to navigate the claims process effectively and avoid insurance scams. May experience difficulties and delays when making claims due to lack of understanding.

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Property Insurance Policyholder Insured Insurance 52

Property Insurance Centre

MAY 20, 2024

Consequences of Underinsurance In the event of a claim on the block insurance policy , the insurer or its appointed loss adjuster may check to see that the Declared Value is adequate. This could mean that if the property is insured for 50% of its correct rebuilding cost, the insurer only pays 50% of the claimed amount.

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Building Insured Insurance Insurer 52

Protect Commercial Insurance

NOVEMBER 22, 2024

Long-term Financial Benefits While the upfront cost of commercial insurance might seem high, consider the long-term savings and financial security it provides. Without insurance, your business could face catastrophic financial loss from property damage, theft, or a lawsuit. Each policy has specific inclusions and exclusions.

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Commercial Insurance Commercial Cyber Insured 52

Property Insurance Centre

SEPTEMBER 11, 2024

Although some Purpose Built Flats Insurance policies will provide some cover to machinery and plant for material damage cover, they will not provide any assistance should the lift break down. Breakdown – Damage to any item of Plant caused by its own Breakdown.

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Insurance Policy Policy Boiler and Machinery Insured 52

Cover4LetProperty

APRIL 16, 2024

They can range from individual property owners to those who own multiple rental properties as part of their investment portfolio. Corporate landlords: These are companies or organisations that own and manage rental properties on a larger scale. They may own residential properties, commercial properties, or a combination of both.

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Insured Insurance Insurer Property Insurance 52

Property Insurance Centre

DECEMBER 23, 2024

Being a Commercial Property Owner or Business Owner you will be aware there will be certain conditions within your insurance policy with regard to the Security at the premises. What this lock simply does, is improve the physical security of your property straight away. Do I have the right lock for my insurance ?

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Commercial Property Insured Insurance Insurer 52

Distinguished

SEPTEMBER 10, 2024

This includes projects that involve: Betterments Renovations New Construction We also insure a variety of building types, including single-family homes , mixed-use buildings , and commercial properties. Our program also offers your clients general liability insurance, which can help cover legal costs that can occur on work sites. 

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Risk General Liability Broker-Agent Insured 52

Property Insurance Centre

JANUARY 30, 2024

It’s essential to accurately determine the rebuild cost of the property and disclose any claims history. It’s essential to accurately determine the rebuild cost of the property and disclose any claims history. Buildings insurance covers the physical structure of the property.

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Building Insured Insurance Insurer 52

Distinguished

AUGUST 26, 2024

Distinguished’s Builder’s Risk Program covers all kinds of buildings in Michigan, including single-family homes , mixed-use buildings , and commercial properties. Responsive Claims Service : Our 24/7 claims team ensures your clients have timely access to funds when needed, minimizing project disruptions.

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Risk Broker-Agent Insured Insurance 52

Protect Commercial Insurance

DECEMBER 6, 2024

With more frequent natural disasters like floods and wildfires, companies are increasingly vulnerable to physical damages and operational disruptions. – Fraud Detection : AI’s capability to detect anomalies makes it a powerful tool against fraudulent claims.

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Commercial Insurance Commercial Insured Insurance 52

Property Insurance Centre

AUGUST 8, 2024

What happens when the unoccupied property becomes empty again? Essentially, the cover you lost will re re-applied to your office buildings policy – such as theft or malicious damage for example will no longer be excluded. First, it is best to have the property let out or being in use.

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Insured Insurance Insurer Premium 52

Property Insurance Centre

AUGUST 28, 2024

Some insurers may give cover to the likes of a Convenience Store for example, but will remove theft cover or malicious damage cover, without an adequate alarm system in place. Whether you have an adverse claims history, a high value property or a large portfolio of properties, we can source suitable cover for you.

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Insured Insurance Insurer Property Insurance 52

Majesco

APRIL 11, 2024

There is inflation and its pressure on claims costs, whether it’s medical or it is physical damage to homes and businesses. If you look at the biggest cost on the income statement of an insurer, it is always claims. We have recently heard claims of 300% and 700% return for each dollar invested in prevention.

Commercial Property 40

Commercial Property Risk Claim Deductible 40

Property Insurance Centre

JULY 30, 2024

3 By only choosing trustworthy tenants, the chances of problems like late rent or damage decrease. This keeps the property in great shape and stops bigger problems from happening. It stops big damage and saves money on repairs later. It reduces the chances of problems like late rent or damage.

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Building Property Insurance Policy Commercial 52

Property Insurance Centre

NOVEMBER 26, 2024

They should look for any signs of wear, damage, or degradation. If the PPE looks damaged, it should be taken out of service and replaced. Workers should replace their PPE if it shows signs of wear, damage, or when the manufacturer advises it. Not replacing worn or damaged PPE can be dangerous.

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Injury Protection Risk Damage 52