A good insurance program will protect your business property from loss due to fire, theft, vandalism and more. But without certain important, overlooked and even somewhat arcane coverages, your property coverage could leave you short of the funds needed to rebuild and recover. Increased Cost of Construction Do you own your business premises? Any building...
Read more
Anatomy of an Insurance Policy
An insurance policy is a legal contract between an individual or organization (the insured) and an insurer. Although millions of dollars in claims payments can be at stake, too few insureds bother to read their policy. The following primer will help you understand the parts of a policy and some things to look for. All...
Read more
7 Steps To Filing Your Insurance Claim
We hope it never happens, but when you suffer a loss, you’ll have to file a claim to receive payment from your insurer. Here’s how the process works, and how to handle it to your best advantage. Notify Authorities Your first priority is always to prevent further injury and to protect life and health. If...
Read more
Alternative Dispute Resolution and Your Legal Rights
In alternative dispute resolution (ADR), a neutral third party helps parties to a dispute reach a resolution outside of the court system. The most common types of ADR are mediation, arbitration and mini-trials. Mediation lets two or more parties solve disputes through the use of a mediator, a trained neutral third party. The mediator opens...
Read more
The Insurance Formerly Known as Boiler and Machinery
If you’ve been in business a while, you might have heard the phrase “boiler and machinery insurance.” However, today’s policies do much more than cover boilers and machinery, hence the name change. Read on to learn more about this valuable coverage. Insurers introduced boiler and machinery coverage in the mid-1800s to cover valuable steam-powered machinery...
Read more
Getting to Know Your Property Policy
Understanding the who, what, when, where and how of your property policy can ensure you have the coverage you need, when you need it. Who Business property policies cover real estate and personal property owned by the “named insured.” The policy lists this person or entity on the declarations page, located near the front of...
Read more
Five Tips for Buying Business Insurance
Use these tips to assess what types of business insurance you need for your business and how to get the best combination of protection and price. Assess Your Risks and Costs. Insurance companies determine the level of risk they’ll accept when issuing policies. Through a process is called underwriting, the insurance company reviews your application...
Read more