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What Agents Should Know About Tariffs and Insurance Costs

American Agents Alliance

The Relationship Between Tariffs and Insurance Costs Rising tariffs could impact many different lines of business, but some experts have narrowed their focus to the effects on homeowners and auto (both personal and commercial). Rising expenses could perhaps cause higher insured values, leading to policy adjustments and higher premiums.

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Proactive Tips for Businesses Facing Hail Damage Claims

Risk Management Monitor

As companies assess their natural disaster preparedness, there are some proactive measures that should be taken specifically for hail to leave organizations best positioned for any resulting insurance claims. Let’s say you operate a business in Plano, Texas, and have a commercial property policy with a renewal date of January 1, 2022.

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What is a Managing General Agent (MGA) in Insurance?

Distinguished

Here are just a few of the ways that MGAs and insurance brokers differ: Underwriting and policy issuance : Traditional brokers sell insurance policies but must go through an insurer to get coverage approved. MGAs, on the other hand, have the authority to underwrite, price, and even issue policies on behalf of insurers.

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Emerging Property Insurance Trends 2024

Property Insurance Centre

This ensures that policyholders are adequately protected and reduces the risk of property owners being left with insufficient coverage when faced with repair or replacement costs. Commercial properties: Business owners may face higher repair costs for their establishments, particularly if specialized equipment or materials are required.

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Builder’s Risk Insurance in Tennessee: A Broker’s Guide 

Distinguished

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. When a project is under construction or renovation, your clients are likely not covered by their homeowner’s insurance or business insurance.

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The Pressures of Operational Optimization

Majesco

US commercial Property and Casualty insurers have obtained incredibly high results in avoiding water, non-weather losses, using IoT solutions for risk prevention. I hope in the next 12-18 months, carriers will start extending these programs into larger parts of their portfolios. Here is a positive trend, for example.

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Blog Post: Commercial Property Owners: Plan Ahead and Prepare for Emergencies!

LexisNexis

A disaster management and emergency response plan is essential for commercial real property owners, landlords, managers, and governing bodies. Commercial Property and Liability Insurance Dive into this practice note for an overview of commercial property insurance and commercial general liability (CGL) insurance.