Business insurance claims show clear patterns for losses by providers

Business Insurance policy

According to recent data, some of the top causes of claims losses include power outages. A recent data analysis conducted by Allianz Global Corporate & Specialty has revealed that power failure were among the leading causes for interruption related loss claims on business insurance policies from 2010 through 2014, worldwide. In fact, power outages took tenth place when it came to losses from business interruption during that time. The Allianz Global Corporate & Specialty firm specializes in industrial and business risk coverage and its research involved an analysis of almost…

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Insurance claims begin following the Baltimore riots

Riot Insurance claims News

Residents and businesses faced property damage and looting and are now filing with their insurers. The residents of Baltimore have certainly faced destruction to their properties as a result of the riots, but it is the businesses that will be making the largest insurance claims, and many owners are wondering exactly how much of the various forms of damage will be covered by their insurers. The most obvious claims are being filed with insurance companies for issues such as looting and property damage. However other insurance claims could be filed…

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The lessons business should learn from 2011 catastrophic insurance news

Business insurance report highlights the importance of business interruption coverage Following the tremendous amount of insurance news involving catastrophic events around the world last year, it is recommended that businesses take this opportunity to learn from the past and make the right coverage decisions to reduce their risk of financial harm in the future. Marsh has published a report that has shown that the scale of the 2011 catastrophes was greater than what the previous predictions from loss modeling had provided, and has now challenged the standard belief systems regarding…

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Nationwide and Allied Insurance team to respond to natural disasters in Southeastern U.S.

Nationwide and Allied Insurance are coming together to provide policyholders with quick assistance in the wake of natural disasters that have come to the Southeastern U.S. In the past year, residents of Southeastern states have been inundated with storms, tornadoes and floods. These disasters have caused extensive damage to homes and businesses and put severe strain on the economy of the region. Insurers hold out hope that 2012 will not be a retelling of the previous year in terms of catastrophes, but recent storms have shaken that hope. The two…

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The importance of understanding what business interruption insurance can provide

According to partner Robert Glasser from the Dempsey Partners L.L.C. New York Office, it is very important for a company to assess its needs for business interruption coverage and to do so carefully. That said, while CFOs and risk managers are typically confident in determining many of the insurance needs of their organizations, they often balk in the face of business interruption because they don’t have a structured approach to provide them with the information they require to make their decision regarding this coverage and its limits. Unfortunately, this discomfort…

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Buying business insurance to protect yourself and your company

Just as it is important to obtain insurance coverage when you own a house or a car, it is equally important to protect your business. If you are the owner of a company of any size, it is highly recommended that you speak with an independent business insurance agent in order to find out about the types of coverage that are available to you, and to help decide which ones are right for you. This is a decision that should not be rushed, as shopping around will help you to…

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