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Insurance affordability in Georgia is dwindling as claim frequency and insurer costs soar, according to the latest issue brief from Insurance Information Institute (Triple-I), Trends and Insights: Georgia Insurance Affordability. Data indicates that litigation costs have become a pervasive concern for risk management.
Discover the factors that influence the cost of generalliabilityinsurance, including coverage limits, business type, and location. Learn how to find the best rates and ensure your business is protected against potential risks.
The casualty insurance market is currently experiencing unprecedented volatility, with significant pricing fluctuations and escalating loss costs becoming the norm. He highlighted the bifurcated nature of the market, with profitability in workers’ compensation being offset by severe issues in generalliability and auto lines.
However, for insurance brokers, the wide spectrum of restaurants represents both a challenge and an opportunity. With thousands of restaurants in Charlotte and across North Carolina, the need for comprehensive insurance coverage is vital. What Does Distinguisheds Restaurant Insurance Cover?
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Many insurance carriers use third-party crime scores to evaluate their exposure to criminal risk when underwriting generalliabilityinsurance policies. Thus, affordable housing providers are highly likely to experience a loss of coverage or relatively high insurance premiums. Read the full report here.
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We sat down with Distinguished’s Builder’s Riskinsurance 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.
However, alongside all of this construction comes large financial risks. For this reason, the need for comprehensive Builder’s RiskInsurance solutions is growing. What Perils Does Distinguished’s Builder’s RiskInsurance Cover? Who Needs to be Insured by a Builder’s Risk Policy?
From financial losses to reputational damage, legal battles, and even the risk of shutting down, the impact can be severe. Whether you’re a small business owner, contractor, or entrepreneur, understanding liabilityrisks is crucial for survival. This means your personal assetshome, car, and savingscould be at risk.
Builder’s RiskInsurance covers property during the course of construction, whether it’s a new build or renovation. One common question is whether the contractor and the property owner can be named insureds on the same Builder’s Risk policy. In this case, the owner is covered for the physical damage to the property (e.g.,
The post Home health aides’ insurancerisks appeared first on InsuranceBee Blog. And they provide invaluable support to doctors, nurses, and other medical professionals. Assisting patients with everyday tasks, … Read more.
As a business owner, it’s crucial to protect your business from potential risks and liabilities. While you may have the basic insurance policies in place, such as property and generalliabilityinsurance, there are several other essential insurance policies that you might be overlooking.
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Business meeting at a conference table by Fauxels In the complex world of business operations, unforeseen events can lead to liabilities that exceed the limits of your existing insurance policies. Commercial umbrella insurance kicks in when those limits are reached, providing the extra coverage needed to handle high-cost liabilities.
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property and casualty insurance industry experienced better-than-expected economic and underwriting results in the first half of 2024, according to the latest forecasting report by Triple-I and Milliman. The net combined ratio for homeowners insurance of 104.9 The report was released during a members-only webinar on Oct. 19 and 20.
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.
Insuring Construction Risks through Commercial GeneralLiability Policies Scrutinize the risks covered by the commercial generalliability (CGL) policy and how to specify in a construction contract the insurance to be obtained so that coverage for construction risks is maximized.
Insuring Construction Risks through Commercial GeneralLiability Policies Scrutinize the risks covered by the commercial generalliability (CGL) policy and how to specify in a construction contract the insurance to be obtained so that coverage for construction risks is maximized.
Generalliabilityinsurance is the most regularly purchased insurance policy among small businesses. It’s not hard to understand why — the risk of unruly equipment and product mishaps are both common and completely tangible. It’s a newer risk that exists behind screens, not wet floor signs.
GeneralLiability, Auto, Product Liability, and Umbrella & Excess Insurance are experiencing high pricing volatility while loss costs across the board are becoming the norm. Where is the market headed? Whats the best way to navigate these turbulent waters?
Welcome to our blog post on how to maximise your business growth by securing the right commercial tailors insurance. 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. Let’s dive in!
Emerging Property Insurance Trends 2024 Welcome to our guide on emerging trends in the property insurance industry. As we dive into the evolving landscape of property insurance, it’s important to stay informed about the latest trends and challenges affecting the market.
As reported on the Hunton Insurance Recovery blog, Hunton product liability and mass tort attorneys Elizabeth Reese and Alexandra Brisky Cunningham and insurance attorney Latosha Ellis recently published an article in Risk Management discussing key lessons from Peloton’s Tread+ Recall. Continue Reading.
In California’s vibrant technology sector, understanding the scope of your Cyber LiabilityInsurance and Data Breach Coverage is as crucial as having the coverage itself. GeneralLiabilityInsurance: to help cover claims your business caused property damage or bodily injury.
Ready to boost your expertise in Hotel Primary Insurance? If you missed our recent 30-minute webinar, “Hotel Primary Insurance: A Check-In to Success for Insurance Brokers,” don’t worry. Hear from industry experts as they discuss critical differences in Hotel Primary policies and key risks to consider.
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With the cost of insurance for businesses rising across many types of coverage, staying on top of trends in the claims portfolio is more important than ever. Spotting problem areas and opportunities sooner makes it easier to develop and implement steps to reduce risk pre-loss and better control costs post-loss. Potential Benefits.
While preparing for the year ahead, its easy to overlook one critical aspect of business planning: your business insurance coverage. Whether your company experienced growth, faced new challenges, or maintained steady operations, your insurance needs may have changed.
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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.
Introduction Running a business comes with its fair share of expenses, and one of those is commercial insurance. This guide will teach you practical ways to save money on your commercial insurance. It provides protection against a plethora of risks, including property damage, liability claims, theft, and even employee injuries.
The algorithms that power AI also come with their own risks, especially when it comes to employment decisions. But beyond just the employee benefits, the workers’ compensation and generalliability markets are also feeling the pinch of increased medical costs.
Sponsored Post bu NSM Insurance Group Meet NSM Insurance Group Your go-to solution for niche, specialty insurance markets For over 30 years, NSM Insurance Group has steadily grown to become the leading specialty insurance provider with 25+ diverse programs powered by a team of more than 1,000 global employees.
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As reported on Hunton’s Insurance Recovery Blog , the Fifth Circuit recently held that Blue Bell Creameries’ commercial generalliability (CGL) insurers do not have a duty to defend the ice cream company in a shareholder lawsuit, which arose from a Listeria outbreak.
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