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American Guarantee and LiabilityInsuranceCompany , the United States District Court for the District of Massachusetts held that a loose bolt or fitting that could be remedied simply by tightening it did not constitute “direct physical loss of or damage” to equipment covered under an all-risk property insurancepolicy. [1]
As an insurance broker, you likely recognize that while these technologies drive business operations, they also increase vulnerability to cyber crime, making Cyber Insurance a necessity for your clients. Helping your clients understand cyber risks and Cyber Insurancepolicy jargon can be challenging.
Knowing who is ultimately responsible for these breaches can create enormous headaches and leave business owners uncertain of whether they have a liability, and whether that will be covered by insurance.
Many insurance professionals recommend taking steps now to handle a possible increase when you renew your insurancepolicy. What’s Causing the 2025 Insurance Boost in California? One of the primary reasons for the 2025 California car insurance increase is legislative.
You may find various types of personal insurance and commercial insurancepolicies. There are Property and Casualty, Life/health insurance, and more. Then, you will have to submit your licensing application and go through a background check before you qualify as a licensed insurance agent.
Property insurance can protect these assets from damage or loss due to fire, theft, or other covered perils. General LiabilityInsurance General liabilityinsurance is essential for any business, including tailors. Product LiabilityInsurance As a tailor, you create and sell products to your customers.
What you should share with the insurancecompany to help save on cost without compromising coverage. Notify your insurer and broker as soon as possible, detailing how, when, and where the loss occurred and what property may be damaged. Paint a picture – it’s more than just what’s on the application.
. “Insureds need to be aware of the potential risks they face and work closely with their insurers to understand the coverage limitations and take proactive measures to protect their properties.” To offset these challenges, reinsurers are passing costs down to primary insurancecompanies.
Visual Pak tendered the claim to its insurers. Two of those general liabilityinsurers denied coverage for the lawsuit, arguing that the policy’s “Recording and Distribution of Material or Information in Violation of Law” exclusion barred coverage for the claim. Krishna Schaumburg Tan, Inc.
For example, businesses in California’s earthquake-prone areas may consider adding earthquake insurance to their policy to protect their property from potential damage. Companies that rely heavily on technology and data storage may also benefit from cyber liabilityinsurance to safeguard against data breaches and cyberattacks.
Understanding Commercial Insurance Commercial insurance is an essential part of safeguarding your business against unforeseen events that could lead to financial loss. It provides protection against a plethora of risks, including property damage, liability claims, theft, and even employee injuries.
Understanding the Role of Insurance Brokers Insurance brokers operate as intermediaries between clients and insurancecompanies. Their primary role is to offer professional guidance and services to their clients, ensuring they obtain the most suitable and cost-effective insurance coverage.
21, 2022), the insured, Dude Products, Inc., sought coverage from its insurer, Harleysville Preferred InsuranceCompany, against a class action lawsuit that alleged Dude Products intentionally and falsely marketed its wipes as “flushable” even though the product allegedly did not break apart and caused “clogs and other sewage damage.”
Email marketing for insurance agencies may discuss the agency’s offerings, welcome new customers, or share deals on insurancepolicies. For every dollar spent on email marketing, companies average a return on investment of $36. Buy insurance for your insurance agency.
With data breaches, ransomware, and cyber espionage on the rise, cybersecurity has become a critical focus for companies worldwide. The year 2025 sees the sophistication of these threats reaching new levels, affecting companies of all sizes. Insurers must invest in robust data protection strategies to keep up.
One effective way insurers can contribute to consumer education is by including educational materials with insurancepolicies. “Insurancecompanies should prioritize consumer education to build trust and ensure policyholders understand their rights and responsibilities.
Becoming an insurance agent checks all boxes. Your earning potential is based on insurancepolicies. In fact i’ll argue that the best way to get into an insurance agency business is by working part time initially. Generally an agent gets paid 8%-15% of premium for each P&C insurancepolicy issued.
If the PEO’s insurancecompany is paying benefits, there is no need to join the servicing agent or special employer. If a PEO or employee leasing company claims to be self-insured, investigate that claim. Is the gardener covered for workers’ compensation benefits under the homeowner’s liabilityinsurancepolicy?
What doesn’t buy-to-let insurance cover? Most landlord insurancepolicies are unlikely to include the employers’ liabilityinsurance cover you are legally obliged to arrange if you employ anyone (but for a few rare exceptions) to help run your buy to let business.
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