Petbusinessinsurance.com the #1 agency for the Pet business industry

We here at Pet Business insurance want to make sure every pet business gets insured with the specialized types of insurance coverage that are available to them. Unlike normal business insurance, pet businesses have extra options such as animal bailee coverage when getting property coverage. Animal bailee coverage protects business owners when a pet in their care gets injured or dies. According to Forbes, this is a great time to start your very own pet care business! Millennial and Generation Z Americans are pet-obsessed, accounting for 62% of pet ownership. …

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Broadway giant Jujamcyn Theatres sues insurers over pandemic payouts

Jujamcyn Theaters - Image of the interior or a theater

The company operates big-name theaters and is suing two insurers for the size of the payments. Jujamcyn Theaters, operator of the homes of top shows such as “The Book of Mormon”, “Moulin Rouge: The Musical,” “Hadestown”, and “Mean Girls,” is suing its insurance companies. The insurers named in the lawsuit include the Pacific Indemnity Company and the Federal Insurance Company. According to the Jujamcyn Theaters filing, the insurance companies paid only $250,000 for covering what it alleges should be “tens of millions of dollars” in losses associated with the pandemic…

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Morgan Stanley insurance offerings move into P&C coverage

Morgan Stanley insurance - hand holding bubble with house inside

The firm’s partner brokers will be offering wealthy clients these new coverage products. Morgan Stanley insurance products now include a range of P&C products designed for high net worth clients and their families. The brokerage has partnered with Marsh Private Clients Services, HUB International, and Willis Towers Watson to add to its available products. Support for the brokerage’s insurance clients will be provided through “dedicated service teams.” According to Barron’s, “dedicated service teams” will provide Morgan Stanley insurance customers with service. Clients will also be able to benefit from a…

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Cannabis business insurance options weak despite thriving marketplace

Cannabis Business Insurance - Cannabis being weighed

Only six large insurers in the United States are currently offering this type of coverage. Despite the fact that 32 states have legalized medical and/or recreational marijuana use, it remains challenging to obtain cannabis business insurance for companies in this market. There are a number of difficulties that are holding insurers back from selling this coverage. Among the top hurdles in the way of cannabis business insurance is the fact that medical and recreational marijuana use remains illegal on a federal level. As a result, despite the fact that it…

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Louisiana business interruption bill may change coverage due to COVID-19

Business interruption insurance - COVID-19 Test

Legislators are reviewing the bill to decide if insurers should be forced to pay pandemic claims. Legislators in Louisiana are reviewing a business interruption insurance bill. It may require insurers with operations within the state to have to cover claims connected to the coronavirus pandemic. The legislature recently went into session following about 2 months of suspended work due to COVID-19. Both the House and the Senate will need to complete as much as they can by June 1, 2020. The delay they’ve already faced over the last two months…

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The Differences Between State Funded and Competitive Workers’ Comp

Competitive Workers' Comp

As a business owner, the last thing you would want is for an employee to get hurt at work. However, if you run a business long enough, an accident is bound to happen eventually, especially if you work in a high-risk industry. When an employee is injured on the job, they’ll have medical expenses that need to be paid, they may not be able to work while they recover, and in worst-case scenarios, they may sue you for a settlement. Fortunately, this is where workers’ compensation insurance comes into play.…

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22 million unemployment insurance claims were filed in a 4-week span

Unemployment insurance - Closed Business Sign

As businesses continue to remain closed because of the pandemic, workers are steadily laid off. The steady stream of layoffs resulting from businesses temporarily closing due to the coronavirus pandemic has led to millions of additional unemployment insurance claims. In April’s first full week, an additional 5.2 million workers submitted their first week’s filing for benefits. US Department of Labor data showed that the total number of Americans who have filed their first unemployment insurance claims is 22 million in four weeks following March 14. This represents approximately 13.5 percent…

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