Live Insurance News

Rising ship insurance in the Red Sea causes US investors pain

February 19, 2024February 16, 2024 Live Insurance News

Underwriters have been steeply raising premiums to US, UK, and Israeli firms due to risks. Ship insurance companies have been hiking premiums by as much as 50 percent for US, UK, and Israeli firms sailing through the Red Sea due to the increased risks associated with those vessels in that region. Some providers are avoiding that business due to Houthi targeting. The increased ship insurance premiums and avoidance of business traveling through the Red Sea has to do with the chance that certain vessels could be targeted by Houthis from…

Does Commercial Insurance Cover Damage to Solar Panels? A Comprehensive Guide

December 8, 2023 Guest Author

commercial insurance and solar panel coverage

With the growing popularity of solar energy, more and more businesses are making the switch to solar panels. This eco-friendly and cost-effective energy source offers numerous benefits, including reduced energy bills and a smaller carbon footprint. However, like any investment, solar panels are not without their risks. One of the most important considerations for any business owner with commercial solar PV panels is their insurance coverage. In this guide, we will explore the crucial question: does commercial insurance cover damage to solar panels? We’ll delve into the complexities of insurance…

Businesses turn to tax insurance to cover themselves from unfavorable rulings

December 4, 2023December 2, 2023 Nordstrom

Underwriters and brokers are seeing their busiest year ever from companies buying these policies. Governments worldwide have been cracking down on companies that have been avoiding their taxes, and businesses are now buying tax insurance more than ever before in order to protect themselves against a costly dispute or unfavorable ruling. This year has proven to be a record-breaking year for the number of policies purchased for this reason. According to brokers and underwriters, by the close of December, this year will have seen the most tax insurance policies. This…

Is Refrigeration Equipment Covered by Business Insurance?

November 21, 2023 Guest Author

Business insurance is meant to protect you and your business from financial losses in case of an unexpected event. Covered events typically include anything from a customer falling while on your business premises to theft or damage of your business equipment. Business insurance also protects you against things like professional mistakes, legal fees, and when the business faces a compensation claim. As such, it’s important for all businesses, including sole traders, self-employed people, and limited liability companies. What does business insurance cover? Different forms of business insurance cover different kinds…

What Types of Insurance Do Storage Companies Need?

November 14, 2023 Guest Author

what insurance does storage companies want

Storage companies provide a valuable service to individuals and businesses alike, offering a safe and secure place to store belongings. However, like any business, storage companies are exposed to a variety of risks. From fires and floods to theft and vandalism, there are many things that can go wrong and damage the property stored in their facilities. That’s why it’s important for storage companies to have the right insurance in place. Insurance can help storage companies avoid losing money if something bad happens. By having the right insurance coverage, storage…