Shield Insurance Agency

AUGUST 20, 2024

Shield Insurance Blog | Small Insurance Claims | Contact Our Sales Team! Small Insurance Claims Can Raise Premiums Small insurance claims, such as those for minor property damage, may seem like a hassle to deal with. However, filing small insurance claims can have long-term financial consequences.

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Insurance Claim Claim Protection Out-Of-Pocket 52

Distinguished

MARCH 20, 2025

And with rising property values, more frequent catastrophic weather events, and emerging risks like habitability claims, its never been more critical to help your clients navigate their insurance options. Without the right coverage, property owners could be exposed to significant financial and legal risks.

Building 52

Building Protection Damage Liability 52

AMAXX

JULY 30, 2024

So this is your premium adjustments, and these are discretionary adjustments that can be given by your underwriter based on how well they perceive you managing your risk, how well they perceive you managing your risk. and why are we gonna try to get this risk up because you’re saying, hey. So let’s talk about this.

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Workers Comp Risk Workers Compensation Injury 64

Risk Management Monitor

AUGUST 30, 2021

Ida has now weakened to a tropical storm and will continue to cut through the south before making its way across much of the East Coast, bringing significant risks of wind, rain and inland flooding throughout this week. Be sure to assess your risk and execute the appropriate steps to protect your business, property and employees.

Risk 74

Risk Damage Building Business Interruption 74

Distinguished

SEPTEMBER 17, 2024

We sat down with Distinguished’s Builder’s Risk insurance expert, Susan DeCarlo, to discuss common factors that can lead to declinations in our program, how to avoid them, and key risk considerations. So, for example, on a new build if they’re 30 to 60 days in, we can consider that risk.

Risk 52

Risk Broker-Agent Deductible Insurance 52

American Agents Alliance

APRIL 3, 2025

This drives up the cost to repair, impacting claims costs. Proactively explaining and educating policyholders about the ways that global macroeconomic issues impact claims costs, and in turn, insurance premiums, is a best practice. Many policyholders do not realize the connection between tariffs and insurance costs.

Agents 52

Agents Policyholder Premium Auto Insurance 52

American Agents Alliance

FEBRUARY 7, 2025

This trend describes the phenomenon of unexpected rising insurance claim costs because of societal trends and views toward litigation. Learn more about social inflation and E&O risks and how to manage these concerns. This could lead to an E&O claim as policyholders are disappointed in claims outcomes.

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Broker-Agent Risk Policyholder Agents 52

AMAXX

JANUARY 14, 2025

Workers’ compensation programs are a cornerstone of workplace safety and risk management. For employers , it mitigates the risk of expensive and protracted litigation that could arise from workplace injuries. Employer Advantages The exclusivity rule saves employers from significant financial and reputational risks.

Workers Compensation 98

Workers Compensation Compensation Workers Comp Injury 98

Majesco

MARCH 27, 2025

The traditional insurance customer relationship is being re-examined and, in some cases, re-energized by the need to address higher risk and higher premiums. Catastrophic events (47%), intensifying weather events (37%), and a resulting increasing number of claims (39%) are also felt to be significant drivers of homeowner cost increases.

Auto Insurance 52

Auto Insurance Insurance Insurer Insured 52

Freeway Insurance

JANUARY 3, 2025

These drivers are often seen as higher risk by insurers, which can lead to higher premiums even before the 2025 hike. More vehicles on the road lead to a higher risk of accidents, which in turn raises the number of claims that insurance companies must cover.

Auto Insurance 98

Auto Insurance Premium Liability Insurance 98

Boyle Agency Insurance

DECEMBER 3, 2024

Younger, less experienced drivers often face higher premiums due to a higher perceived risk. Deductibles The deductible is the amount you must pay out of pocket before your insurance coverage kicks in after an accident. Age and Gender Age and gender can influence auto insurance rates.

Premium 73

Premium Auto Insurance Out-Of-Pocket Deductible 73

Frankenmuth Insurance

JULY 25, 2024

They’ll get to know you, your operations, and any areas of risk or need. Does my small business face any unique risks? What are the coverage limits and deductibles? What is the highest amount I could pay on a claim? What deductible do I have to meet before my coverage kicks in? How are claims handled?

Agents 57

Agents Deductible Premium Claim 57

Prof. Allan Manning

MARCH 11, 2024

To be fair to the Insurer they have to charge a fair premium for the extra risk passed to them by their granting the extension of coverage for Unabandoned Undamaged Portion of a Building. The rate charged like any insurance premium ought in fairness be based on the perceived risk to the Insurer.

Building 130

Building Damage Premium Risk 130

TGS

OCTOBER 3, 2024

Coastal homes in Florida, for example, face higher premiums due to the increased risk of hurricanes, flooding, and wind damage. The more risks your area poses, the more your insurance company will charge to protect you. The more risks your area poses, the more your insurance company will charge to protect you.

Premium 52

Premium Deductible Out-Of-Pocket Insurance 52

Jackson & Jackson

APRIL 29, 2024

Increase Your Deductible Increasing your deductible is one of the simplest ways to lower your insurance premiums. This means you will pay more out of pocket in case of a claim, but your monthly or annual insurance costs will be lower. Engage in regular professional assessments of your property to identify and mitigate risks.

Commercial Property 52

Commercial Property Property Insurance Commercial Deductible 52

Scott Insurance

JANUARY 28, 2022

While insurance coverage is typically relied upon for many property-related losses, there remains a disconnect about how mold claims are often handled by the insurance industry. Risk Management Considerations There are many factors that come into play when considering the environmental conditions that lead to the growth of mold.

General Liability 52

General Liability Deductible Liability Property Damage 52

Protect Commercial Insurance

NOVEMBER 8, 2024

It provides protection against a plethora of risks, including property damage, liability claims, theft, and even employee injuries. – Professional Liability Insurance: Also known as Errors and Omissions Insurance, this covers businesses against claims of negligence or harm resulting from professional services.

Commercial Insurance 52

Commercial Insurance Commercial Premium Deductible 52

Leadsurance

NOVEMBER 19, 2024

Because every company assesses risk differently, this leads to a difference in price over the same coverage. Just remember, when comparing apples with apples in terms of the level of coverage as well as deductibles, make sure you are actually doing so compared with other quotes.

Home Insurance 52

Home Insurance Premium Deductible Insurance 52

Protect Commercial Insurance

JULY 26, 2024

As a tailor, it is crucial to protect your business from potential risks and liabilities. As a tailor, you face unique risks that require specific coverage. It provides coverage for third-party bodily injury or property damage claims that may arise from accidents on your premises or as a result of your products or services.

Commercial 52

Commercial Insurance Broker General Liability Business Interruption 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. Without legislative change, banks and insurers can’t do business with business without risking running afoul of federal drug laws.

Risk 40

Risk Workers Compensation Commercial General Liability Liability 40

Boyle Agency Insurance

APRIL 27, 2024

These factors make filing a claim more likely, and they range from the condition of your home to your financial standing. Deductibles are meant to induce homeowners to take good care of the condition of their property. To avoid costly claims in the future, damage should be repaired.

Premium 40

Premium Deductible Insurance Insurer 40

Jackson & Jackson

MAY 22, 2024

However, with great opportunities come great risks. “Understanding Multi-Family Property Insurance” Commercial property insurance is a vital safeguard for property owners, protecting their assets against various risks. . It covers property damage, loss of income, liability claims, etc.

Property Insurance 52

Property Insurance Commercial Property Commercial Insurance 52

Jackson & Jackson

MAY 23, 2024

Small business insurance covers property damage, liability claims, and employee-related risks. While basic coverage can provide a level of protection, your business might have additional risks that warrant extra coverage. Identifying these risks is crucial in determining the appropriate coverage for your business.

Small Business Insurance 52

Small Business Insurance Business Insurance Insurance Insurer 52

Shield Insurance Agency

APRIL 19, 2024

This coverage pays for damages to your vehicle regardless of fault, meaning that even if you are at fault for the accident, your insurance will cover the repair costs up to the actual cash value of your vehicle, minus your deductible. The deductible is the amount you must pay out-of-pocket before your insurance coverage kicks in.

Auto Insurance 52

Auto Insurance Deductible Out-Of-Pocket Insurance 52

ProWriters

APRIL 3, 2024

Today’s dynamic business environment and litigious society pose several risks to businesses. Understanding E&O Insurance Errors and Omissions (E&O) Insurance is liability coverage protecting professionals against claims for negligence, errors, or mistakes made in the course of their work. What does EPLI not cover?

Liability 52

Liability Cyber Claim Policy 52

Bankers Insurance

SEPTEMBER 12, 2023

Subrogation is more than just a fancy insurance term – it’s a right held by your insurance carrier under your policy that allows them to seek reimbursement from the party found responsible for the accident after they’ve paid a claim for a covered cause of loss. HOW LONG DOES SUBROGATION TAKE? WHAT IS A WAIVER OF SUBROGATION?

Insurance Carrier 52

Insurance Carrier Compensation Deductible Claim 52

TGS

NOVEMBER 20, 2024

Insurers use a version of it—often called a credit-based insurance score—to assess how likely you are to file a claim. Studies have shown a correlation between lower credit scores and higher claim activity. So, from an insurer’s perspective, your credit score provides a glimpse into potential risk. Your claims history.

Home Insurance 52

Home Insurance Premium Insurance Insurer 52

Cover4LetProperty

JANUARY 29, 2024

Essentially, insurance is about risk and a calculation of the probability of loss or damage being suffered by the insured item or items. Risk is assessed with respect to the likelihood of loss or damage leading the insured to make a claim, since the settlement of claims paid out to the insured represent a liability for the insurer.

Home Insurance 52

Home Insurance Insurance Insurer Insured 52

Jackson & Jackson

APRIL 28, 2024

However, in the event of a claim, this can lead to substantial out-of-pocket expenses due to insufficient coverage limits. Specialized risks, such as floods, earthquakes, and business interruptions, require additional coverage, which many investors should pay more attention to. This often happens when trying to save on premiums.

Business Interruption 52

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

Protect Commercial Insurance

OCTOBER 25, 2024

This approach ensures that you choose a policy that doesn’t just tick boxes but genuinely covers your specific risks and requirements. What are the specific risks associated with your industry? Every industry comes with its own set of risks. Once you’ve outlined the risks, the next step is determining how much coverage you need.

Business Insurance 52

Business Insurance Liability Insurance Liability Policy 52

Distinguished

NOVEMBER 7, 2024

Principal’s Default: A claim under a surety bond arises only upon the default of the principal. The surety’s role is complex, as it must diligently assess the risks associated with underwriting bonds. Role and Responsibilities of Each Party The Principal : Typically, a contractor or construction company undertaking a project.

Claim 52

Claim Compensation Risk Broker-Agent 52

Distinguished

JANUARY 28, 2025

In this brokers guide, we’ll explore what management liability insurance covers, why clients need it, the exposures that go into evaluating a risk, and the benefits of partnering with Distinguished. This can include claims related to alleged mismanagement, negligence, or improper disclosure.

Liability Insurance 52

Liability Insurance Liability Broker-Agent Insurance 52

Distinguished

JANUARY 28, 2025

In this brokers guide, we’ll explore what management liability insurance covers, why clients need it, the exposures that go into evaluating a risk, and the benefits of partnering with Distinguished. This can include claims related to alleged mismanagement, negligence, or improper disclosure.

Liability Insurance 52

Liability Insurance Liability Broker-Agent Insurance 52

Bankers Insurance

MAY 16, 2024

The homeowners insurance market is complicated and dynamic, and many policyholders have experienced increased rates in recent years despite no changes to their coverage or claims filed. Reduce liability risks. Homeowners can submit a claim if they are at fault for another party’s losses, such as bodily injuries and property damage.

Home Insurance 52

Home Insurance Policyholder Insurance Insurer 52

LexisNexis

FEBRUARY 4, 2025

Learn about issues that can arise for insureds and insurers when insurance policies of various durations are called upon to answer for claims and when multiple insurance policies may also apply. Practical Guidance Updates Featuring the latest updates from your Practical Guidance account.

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Policy Commercial General Liability Injury Damage 40

Property Insurance Centre

SEPTEMBER 25, 2024

Define the maximum amount that you are willing to spend additional in the case of a claim. Many people make common mistakes when dealing with building insurance, which can result in inadequate coverage or denied claims. Providing an inaccurate estimate may result in inadequate coverage in the event of a claim.

Building 52

Building Insurance Insurer Insured 52

American Agents Alliance

MARCH 19, 2025

Analyzing historical data like policy changes, the frequency and tone of interactions, and survey results can help agents flag at-risk policyholders and reach out proactively to work with them. Policyholders who receive a claim denial for a loss they expected to have coverage for could be more likely to find a new insurer and agent.

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