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Blog Page 19

Cover Image for What Are SME Insurance Products?

What Are SME Insurance Products?

There is a virtually unlimited number of different coverage options and combinations. However, there are some core coverages that every small and medium-sized business needs, no matter what industry they are in.

Austin Landes, CICAustin Landes, CIC
Austin Landes, CIC
4 minute read
Cover Image for What Is Excess And Surplus Insurance?

What Is Excess And Surplus Insurance?

There are many differences between excess and surplus versus standard insurance companies – often referred to as non-admitted and admitted, respectively. The biggest difference, however, is the amount of regulation between them.

Austin Landes, CICAustin Landes, CIC
Austin Landes, CIC
10 minute read
Cover Image for What Is Food And Drink Insurance?

What Is Food And Drink Insurance?

Running a restaurant or similar business is very complicated and comes with an incredible amount of responsibility. So how can your protect yourself? And what is food insurance? Food and drink industry insurance can help you manage this responsibility and protect your investments if an accident occurs. 

Austin Landes, CICAustin Landes, CIC
Austin Landes, CIC
5 minute read
Cover Image for Advantages And Disadvantages Of Usage-Based Insurance

Advantages And Disadvantages Of Usage-Based Insurance

Usage-based insurance (often called telematics-based insurance) is a growing feature of both personal auto and commercial auto insurance policies. It expands underwriting from the traditional metrics of age, gender, occupation, and financial information to also include a driving evaluation (performed by a GPS unit attached to your car). Should you try it?

Austin Landes, CICAustin Landes, CIC
Austin Landes, CIC
6 minute read
Cover Image for Commercial Insurance Renewal Process: An Overview

Commercial Insurance Renewal Process: An Overview

The commercial insurance renewal process will look significantly different for every business. Still, each renewal involves some common elements of exploring changes to your company and working with your broker to react to different market conditions.

Austin Landes, CICAustin Landes, CIC
Austin Landes, CIC
6 minute read
Cover Image for What Is Extra Expense Coverage?

What Is Extra Expense Coverage?

Most business continuity insurance (also called business income insurance) involves extra expense insurance. This coverage can be found within the commercial property insurance policy and is triggered by a direct physical loss to either your business' contents or building. Extra expense coverage pays for actual, reasonable, and necessary operating expenses you incur during the period of restoration. The coverage specifies that payment is made only for expenses that would not have been incurred if there had been no damage.

Austin Landes, CICAustin Landes, CIC
Austin Landes, CIC
7 minute read
Cover Image for What Is Time Element Insurance Coverage?

What Is Time Element Insurance Coverage?

Time element coverage insurance refers to claims of monetary loss due to the inability to use a property as a result of damage. The amount of money lost is directly correlated with the time your property cannot be used, hence the "time element."

Austin Landes, CICAustin Landes, CIC
Austin Landes, CIC
7 minute read
Cover Image for Business Interruption Insurance - What's Covered?

Business Interruption Insurance - What's Covered?

Business interruption insurance is the most important property insurance a small business can buy. In the event of a business interruption event, there are two important coverages that you will utilize: business income and extra expense. Each coverage plays a critical role in reopening your doors and keeping your business solvent during these hard (and expensive) times.

Austin Landes, CICAustin Landes, CIC
Austin Landes, CIC
5 minute read
Cover Image for What Is Excess Insurance?

What Is Excess Insurance?

The majority of business liability insurance policies come with liability limits of $1,000,000 per occurrence - but is this enough? $1,000,000 is not enough coverage for a business when the average business negligence lawsuit is $1.5 million, and the average product liability lawsuit is $7,000,000+. There is a way to cover yourself and your business, though..

Austin Landes, CICAustin Landes, CIC
Austin Landes, CIC
6 minute read
Cover Image for What Is Premises Liability Insurance?

What Is Premises Liability Insurance?

If you have a business location, whether it be an office or a storefront, the chances are that you have some premises liability risk. From customers tripping in your parking lot to an item falling on a customer - things happen.. and they occur in unforeseen ways. The good news is that these unforeseen events don't have to keep you up at night. It is most likely covered under your commercial general liability (CGL) insurance policy.

Austin Landes, CICAustin Landes, CIC
Austin Landes, CIC
6 minute read