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. Even though the floor had partially detached from the property’s exterior wall, it remained standing.

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Building Commercial Property Damage Policy 130

Protect Commercial Insurance

NOVEMBER 22, 2024

Introduction Navigating the world of commercial insurance can feel a bit like wandering through a maze, with myths lurking around every corner. Myth 1: “Commercial Insurance is Too Expensive” Image courtesy: Unsplash Understanding the Costs Many businesses fear that commercial insurance will break the bank, but this myth needs debunking.

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Commercial Insurance Commercial Cyber Liability 52

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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Protect Commercial Insurance

DECEMBER 6, 2024

Introduction The world of commercial insurance is constantly evolving, adapting to meet the changing needs of businesses. Whether you’re a small business owner, an industry leader, or just curious about the future, understanding these key trends will be essential in navigating the commercial insurance world.

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Commercial Insurance Commercial Insurer Insurance 52

The Property Insurance Law Observer

JUNE 13, 2024

2024), to preserve diversity jurisdiction, the United States District Court for the Southern District of New York permitted a plaintiff insured to drop non-diverse, dispensable defendant Underwriters at Lloyd’s, London (“Underwriters”) which subscribed to a commercial property insurance policy. 2024 WL 2830909, (S.D.N.Y.

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Underwriter Underwriting Commercial Property Property Damage 130

Insurance Journal

OCTOBER 4, 2024

SPRUCE PINE, N.C. (AP) AP) — Two North Carolina facilities that manufacture the high-purity quartz used for making semiconductors, solar panels and fiber-optic cables have been shut down by Hurricane Helene with no reopening date in sight. Sibelco and The Quartz …

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Commercial Property Property Insurance Damage Commercial 289

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. Commercial Property Insurance While many businesses have property insurance, they often overlook the importance of commercial property insurance.

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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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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 Commercial Property 52

Zywave

NOVEMBER 20, 2024

Commercial Lines Trends Cyber: AI continues to be top of mind for those in the cyber market. Commercial Property: Extreme weather events continue to lead to extreme property damage. Repairing this damage also continues to be more expensive due to inflation.

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Workers Comp Commercial Property Cyber Commercial 52

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.

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Property Insurance Commercial Property Liability Insurer 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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Insurer Insurance Insured Property Insurance 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 Insurer 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 Centre

NOVEMBER 11, 2024

Insurers, do not however, look on negatively when a customer claims for substantial damage when they need genuine help. Maintain your property regularly – A well maintained property will lead to less claims. This shows the insurer, you are not a persistent claimer, which will inevitably put their account in deficit.

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Property Insurance Centre

JULY 21, 2024

Aspray, a leading property damage claims management company, can act on your behalf when you need to make a claim. Aspray’s repeat win is a reflection of their unwavering commitment to delivering top-notch service to their clients, ensuring that they receive the best possible outcome in times of property damage.

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Claim Property Damage Property Insurance Building 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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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. Developers : In larger commercial projects, developers need to be included on the policy. What Kinds of Projects Will Distinguished Cover in Michigan?

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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 Insurer 52

Property Insurance Centre

MAY 20, 2024

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. damage caused by a leak). Terrorism Cover for Block of Flats Insurance policies for individual houses typically include cover for damage or loss caused by an Act of Terrorism.

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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. This approach applies to all customers who hold Property Insurance Centre Commercial Policies.

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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. It may also cover damage caused by burst pipes, subsidence, or accidental damage.

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Building Insurer Insurance Insured 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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Property Insurance Centre

MARCH 19, 2024

Flood Insurance Floods can cause significant damage to property, making flood insurance a crucial consideration for homeowners and business owners in flood-prone areas. Policyholders who understand the evaluation of damages and coverage available are better equipped to negotiate with adjusters and advocate for fair settlements.

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Property Insurance Policyholder Insurer Insurance 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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Property Insurance Centre

JANUARY 30, 2024

This type of insurance is designed to safeguard the physical structure of the property, providing financial protection in the event of damage or loss due to various risks. In addition, it provides peace of mind to the property owner by offering financial security for the building itself.

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Insurer Insurance Insured Building 52

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

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. US commercial Property and Casualty insurers have obtained incredibly high results in avoiding water, non-weather losses, using IoT solutions for risk prevention.

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Risk Management Monitor

AUGUST 9, 2022

Last week, a severe thunderstorm unleashed massive hailstones in Alberta, Canada, damaging dozens of cars and unleashing potentially record-breaking hailstones the size of grapefruits. The reality is that large hail typically accounts for a majority of thunderstorm-related losses in North America during any given year.”.

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