If you are like most people, it's always in the back of your mind when you decline the car insurance when renting a vehicle while away on vacation or business.
If you've ever opted for full supplemental coverage, you've likely noticed that the cost of your rental skyrockets by more than 50% in many cases. But, if you already have insurance for your personal vehicle, you likely don't need it.
Do I have Business Interruption coverage for this?
In order for the Business Interruption (Business Income) policy to trigger coverage, there has to be a “covered cause of loss.” The form of your policy provides the answer, which has, up to this point, been a resounding no. All of the commercial property company’s forms we have read have a Virus or Bacteria Exclusion, which excludes loss or damage caused by, or resulting from, any virus, bacterium, or other micro-organism that induces, or is capable of inducing, physical distress, illness, or disease.
ISO (Insurance Services Office) recently released two optional endorsements to address limited BI coverage related to the Coronavirus. In our discussions with companies, they have to file these endorsements and also be willing to utilize them. As of now, we have not seen any companies who are interested in providing these endorsements going forward.
Insuring classic and specialty cars can be confusing for the first-time buyer because how you cover the vehicle depends on how you're going to use it.
If you've never owned a classic before, you may not know the right questions to ask. But that's why we are here.
Fires are the most common claim for homeowners, and they can start in a variety of ways.
The causes of these fires range from food left unattended on the stove to candles left burning. A majority of these fires are preventable with some forethought and care to minimize the risks.
A new report predicts that most commercial insurance lines will see increases in 2020 as the market continues to harden almost across the board, with the only exception being workers' compensation.
Imagine several small businesses located around the country. Each is well-established and profitable. Each of them bought business insurance - property, liability, automobile, and workers' compensation.
They told their agents they wanted the lowest possible price for coverage, and the agents came through. But they didn't also take their agents' recommendations to purchase additional coverage.
Test Your Home. Protect Your Health.
The Environmental Protection Agency (EPA) has designated January as National Radon Action Month. As part of this safety campaign, American’s are urged to protect their health by testing their homes for radon.
Winter weather is tough on nearly everything, including your roof. Harsh winds, the stress of freeze-thaw cycles, and the weight of the snow can affect a roof’s structural integrity. The damage can range from a leak to a roof collapse.
Fraud takes many shapes and forms, among them corporate fraud, consumer fraud, tax fraud, identity theft, and many others. According to ACFE (Association of Certified Fraud Examiners), organizations worldwide lose an estimated 5 percent of their annual revenues to fraud, costing the world $3.7 trillion each year.
In the course of doing business, you may sometimes find yourself entering into contracts requiring that your business be named as an additional insured on another party's insurance policies.
This is often done to protect your business from losses for which you may be legally liable as a result of the business relationship you have with the other party, but that are not due to your own business's direct negligence.
An additional insured is defined as an individual or entity that not automatically included as an insured under the policy of another, but for whom the named insured's policy provides a certain degree of protection.