Tag: Business Insurance

Insurance industry takes considerable interest in commercial drones

Julie Campbell
liability Insurance industry policy for drones

Insurers have started catching onto what many other sectors have been doing with these flying devices. Across the United States, Canada and several other countries, the insurance industry has been watching the use of commercial drones by real estate agents for listings, farmers for crop monitoring and even mapping for the oil sands, as the use of these flying devices does come with a certain degree of risk. Insurance companies have spotted this risk and are coming up with products to help protect businesses using drones. Drones can offer amazing…

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North Carolina officials target employers without workers compensation

Julie Campbell
workers compensation insurance

The Industrial Commission has already fined and charged companies operating without proper insurance. In North Carolina, the Industrial Commission, the authority responsible for the enforcement of laws regarding workers compensation, has now started to target employers that have not been carrying adequate insurance in order to comply with the state’s laws. As a result of the crackdown that has been occurring over the last year, $1 million in civil fines have been collected. These civil fines were collected from companies without adequate (or any) workers compensation coverage. Moreover, beyond fining…

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Business insurance claims show clear patterns for losses by providers

G. Turner
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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Demand for terrorism insurance is on the rise

S.Vagus
Terrorism Risk Insurance industry

Paris attacks highlight the potential value of adequate insurance coverage In the wake of the November 13 attacks in Paris, France, the demand for terrorism insurance may grow. Several businesses have struggled to recover following the attack, which left Paris in a state of emergency, and these businesses may be able to find some solace through the claims they issue to their insurance providers. They may also find some support through a special state-backed fund that was established in France in 2011. Terrorist attacks are becoming a major concern for…

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Cyber insurance claims are made by 4 out of 10 companies

Julie Campbell
cyber insurance companies security mobile

A new survey has revealed that a very large percentage of businesses have filed against their policies. When it comes to business coverage, cyber insurance has been increasing quite rapidly in popularity as a results of the many high profile data breaches that have occurred over the last few years. Unfortunately, while coverage is more common, it’s also being used quite a bit by the companies that have it. While the idea behind buying a policy is usually to get it just in case, while hoping that it will never…

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