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Common Myths About Commercial Insurance Debunked

Protect Commercial Insurance

Introduction Navigating the world of commercial insurance can often feel like walking through a dense fog of myths and misconceptions. Unfortunately, the abundance of myths surrounding commercial insurance may lead many business owners to make decisions that are not in their best interest. This is far from the truth.

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Common Mistakes to Avoid When Filing Commercial Insurance Claims

Paragon Independent Insurance Agencies

Filing a commercial claim is a complex and daunting process, especially for business owners unfamiliar with the ins and outs of insurance policies. Delay in Notifying the Insurer Timely notification is essential, as most insurance policies must be reported immediately. Our team covers the Plano, TX area.

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5 FCA permissions for advising on commercial insurance.

Protect Commercial Insurance

The following 5 Permissions are necessary if you’re advising or transacting on Commercial Insurance 1. This includes recommending a specific insurance policy to a customer. For example, entering into a contract of insurance with a customer on behalf of the insurer (i.e Arranging investment deals.

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Understanding Consumer Education and Property Insurance

Property Insurance Centre

Understanding Consumer Education and Property Insurance As an informed consumer, education on consumer rights and property insurance is crucial. It empowers individuals to make informed decisions about insurance coverage and understand their policy rights. Leads to confusion and potential gaps in coverage.

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Impact of Rising Interest Rates on Property Insurance

Protect Commercial Insurance

They can be set by central banks and are influenced by several factors, including inflation, economic growth, and monetary policy decisions. Sometimes, changes in global financial markets or government policies can also be catalysts for rate hikes. Definition and Causes Interest rates are, essentially, the cost of borrowing money.

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What is Fair Value and what does it mean for the insurance market?

Protect Commercial Insurance

Whilst we’re predominantly a commercial insurance broker, the new ruling affects our high-value household policies. Key changes The new rules have brought some key changes to the way General Insurance works: Equivalent policy premiums should not be higher for existing customers than for new customers.

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FCA Test Case: Supreme Court Update

Protect Commercial Insurance

We are reviewing the content of the judgment in detail however, in short, the Court substantially allowed the appeal of the FCA and dismissed the insurers’ appeal. It remains the case that not all policies will respond to COVID-19 BI losses. Protect Commercial Team.