Remove Financial Loss Remove Injury Remove Theft
article thumbnail

Commercial Insurance and Protection of Business Property

Paragon Independent Insurance Agencies

Commercial Insurance Information Commercial insurance consists of policies to safeguard businesses when financial losses are inevitable. These events may include property damage, liability claims from work-related injuries, break-ins, or business interruption. It is critical to understand how to determine what is covered.

article thumbnail

Can Both the Contractor and Property Owner Be Named Insureds on a Builder’s Risk Policy?

Distinguished

Financial Interest and Named Insureds In a typical Builder’s Risk policy , the named insured is the entity that has a financial interest in the construction project. This could be the contractor, developer, or property owner, depending on who stands to suffer a financial loss if the property is damaged during construction.

Policy 52
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

5 Essential Considerations for Insurance When Buying or Investing in Commercial Property

Jackson & Jackson

It covers the physical structure of your building and its contents against fire, theft, and some natural disasters. It protects you from claims arising from accidents or injuries on your property. Business Interruption Insurance Unexpected events can disrupt your operations, leading to significant financial loss.

article thumbnail

Common Myths About Commercial Insurance Debunked

Protect Commercial Insurance

Debunking the Myths Myth 1: Importance of Commercial Insurance for Small Businesses Despite their scale, small businesses often operate at higher risks of personal and financial losses. For example, a small retail shop could face severe repercussions from events such as fire, theft, or customer injuries on premises.

article thumbnail

Freehold Block of Flats Insurance: Top Cover Tips

Property Insurance Centre

This includes providing details about any unoccupied flats, as they may pose higher risks due to increased vulnerability to theft, vandalism, or damage. This insurance ensures that in the event of unforeseen damages or disasters, the property owners are protected against financial loss and can reconstruct the building to its original state.

article thumbnail

Understanding Multi-Family Property Insurance in California.

Jackson & Jackson

It covers property damage, loss of income, liability claims, etc. With the right insurance coverage, investors can mitigate financial losses resulting from unforeseen events such as fires, storms, theft, or vandalism. It protects against perils like fire, explosions, storms, and other risks outlined in the policy.

article thumbnail

How a “No-Harm” Data Breach Lawsuit Could Harm Your Clients

ProWriters

Per the nonprofit Identity Theft Resource Center (ITRC), 2,116 data breaches had been reported nationwide this year through September. Plaintiffs had to demonstrate they suffered actual injury as a result of the breach. Alleged Injuries Arising from the Risk of Future Harm Are Concrete” In August 2023, the 2nd U.S.

Cyber 52