Steadfast Insurance files lawsuit against oil and gas companies for causing earthquakes

Steadfast Insurance - Oil and Gas Drilling Rig

The insurer is suing seven oil and gas companies in order to achieve subrogation for quake damage. Steadfast Insurance Company is suing seven oil and gas companies, seeking subrogation in an effort to recover the almost $400,000 it has paid out in policyholder claims. The lawsuit is over the wastewater injections that occurred near Pawnee. The complaint is not entirely unique, as four other pending lawsuits of a similar nature have been filed. On September 3, 2016, the Pawnee Nation’s government buildings were damaged by a magnitude 5.8 earthquake. Since…

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Marriott data breach costly despite cybersecurity insurance coverage

Marriott data breach - Marriott Hotel

The massive hotel chain’s cyberattack could affect as many as 500 million of its customers. The Marriott data breach is now believed to affect as many as 500 million of its customers. The hotel giant is protected by cybersecurity insurance, but the cost of the cyberattack’s cost could be in the billions over coming years. These types of mega-breaches are becoming more commonplace and more costly all around. Based on data from other similarly sized breaches, the Marriott data breach will come with a multi-billion dollar price tag over the…

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Business insurance claims denied to vendors at hugely popular farmer’s market

st jacob farmers market fire business insurance

Some of the sellers at the St. Jacob’s Farmers’ Market which was destroyed by a fire will not receive a payment. The start of September brought devastation to a farmer’s market so unique that every year, it brings in crowds from around the world, but business insurance couldn’t save some vendor from the losses that were incurred from a massive fire that destroyed the main building. Early on Labor Day morning, flame engulfed the sprawling two-story building, leaving only rubble behind. Now, several St. Jacobs Farmers’ Market vendors are being…

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Business insurance tips for small company startups

Business Insurance

Affordable business insurance can provide significant financial protection for startups. When starting a small company, it is important to look into the types of business insurance that will be required to help you to mitigate risk and protect the financial future of your organization, no matter its size. There are certain types that will be very useful for making sure that you will be covered against a number of different potential circumstances, though there are also forms of coverage that you may not require. As you consider the various forms…

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What type of insurance coverage should small businesses consider?

Basics of commercial insurance coverage plans Proper insurance coverage is important for companies of all sizes, but when it comes to shopping for policies, small business owners often struggle to know what they should be buying. This is because there are several different types that should be considered and that may need to be covered. It can be vital to the financial security of a small business that it covers itself against the main risks involved in the ownership of that business. The right policy will make the difference between…

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What should you think about when you consider buying cyber insurance

Data breaches are a form of attack that can come on with absolutely no warning or provocation, and can cause either very little or no damage, or can cripple a business’s ability to function. Because they are so unpredictable, making them extremely challenging to budget for, cyber insurance is considered by many to be a very practical way to offset any of the unanticipated costs that can be associated with them. That said, it remains very important to take additional preventive efforts and security practices to ensure that your data…

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GEICO announces cheaper commercial auto insurance rates for businesses in Texas

Business owners in Texas may now have a commercial auto insurance policy available to them at a lower rate, as GEICO announced that they have made this new coverage available in the state. According to the director of commercial lines at GEICO, Kushwant Singh, his company is happy to be able to provide this new coverage to Texas businesses. He added that his company is recognized for providing cheap auto insurance coverage, but that “more and more business owners in Texas are discovering how much they can save with us…

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