7 Types Of Insurance Needed For Farming

farming equipment insurance

Owning and running a farm comes with several different risks, from damage to machinery, buildings, or vehicles to public liability claims, to the loss of livestock, etc. Having a farm insurance policy in place can help protect you financially from most of these risks and ensure that your business keeps running smoothly. Here are the seven different types of insurance needed for farming Farm Liability Insurance Farm liability insurance is a type of general liability insurance that covers claims against your farm concerning property damage and bodily injury primarily. If…

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Why SMEs Should Not Skimp on Cyber Liability Insurance Investment

cyber liaiblity insurance for small business owners

Running a small or midsize enterprise (SME) is not a mean feat despite the relatively smaller scale of operations. As a business owner, you may struggle with money and resource constraints more often than you imagine. Embracing a savvy mindset can keep your enterprise afloat, but cutting corners in some areas may cause more harm than good. Business insurance is an element most entrepreneurs consider an unnecessary burden, but it can be a lifesaver. While you may realize the significance of commercial liability coverage, cyber liability insurance might not be…

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AIR Worldwide Updates Loss Estimates for Post-Tropical Cyclone Sandy

Homeowners flood Insurance

BOSTON, Nov. 26, 2012 – Since Sandy made landfall as a post-tropical cyclone on October 29, 2012, in southern New Jersey, catastrophe modeling firm AIR Worldwide has been analyzing the storm’s characteristics and impacts. Informed by the latest available information on surge height and extent from the USGS, surface wind speed observation data, and findings from AIR’s post-disaster survey teams, AIR now estimates that insured losses from Sandy will be between USD 16 and USD 22 billion. AIR estimates include wind and storm surge damage to onshore residential, commercial and…

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AIR Worldwide Reports from Areas Affected by Sandy, Part III

Flood Insurance Hurricane Sandy Jersey Shore

This report is the third in a series from AIR’s recently concluded damage survey of areas impacted by Sandy, which made landfall on October 29, 2012, five miles southwest of Atlantic City, New Jersey. On November 11, 2012, AIR teams were deployed to survey damage in New York and New Jersey. The commentary in this report provide an initial glimpse into the kinds of damage patterns caused by this event in Staten Island, New York, and Toms River, Point Pleasant Beach, Sea Bright, Keyport, Union Beach, Keansburg, Kearny, Secaucus, Moonachie,…

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AIR Estimates Insured Losses in the U.S. from Hurricane Isaac of between USD 700

windstorm xaver insurance news

Hurricane Isaac Damage Report: Catastrophe modeling firm AIR Worldwide estimates that insured losses from Hurricane Isaac to onshore properties in the U.S. will be between USD 700 million and USD 2 billion. AIR estimates include wind and storm surge damage to onshore residential, commercial and industrial properties and their contents, automobiles, and time element coverage (additional living expenses for residential properties and business interruption for commercial properties). “Isaac made two separate landfalls, both as a Category 1 hurricane,” said Dr. Tim Doggett, principal scientist at AIR Worldwide. “The first occurred…

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