article thumbnail

What You Need to Know About Filing a Business Insurance Claim

Top Insurance Blogs

Do you know what to do when your business suffers property damage or loss? Are you aware of your business insurance claim and how to make use of it? What steps should you take when you record property or casualty damage in the course of your business activity?

article thumbnail

​W​hy Business insurance?

Shield Insurance Agency

Business insurance is a safeguard for your business. Business insurance protects you/your business against various risks and potential financial losses that can arise from unexpected events or claims. The post ​W​hy Business insurance?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Mistakes in setting sums insured / declared value where the Insured elects an Indemnity Period of less than 12 months.

Prof. Allan Manning

I recall the very first business interruption claim I did was for a risk in Toowoomba and to my horror found that the Insured had only declared 3 months insurable gross profit with a 3-month Indemnity Period. In fact, around 75% of interruption claims by number have an Indemnity Period of less than 3 months.

article thumbnail

Protect Your Packaging Business With the Right Insurance

Central Insurance

Learn how the right insurance policies can help protect your packaging business from equipment breakdowns, liability claims, and costly interruptions. The post Protect Your Packaging Business With the Right Insurance appeared first on Central Insurance Blog.

article thumbnail

Crawford & Company Report Highlights Growing Pressures in Global Insurance Claims

Top Insurance Blogs

Crawford & Company, a leading global claims management provider, has released its latest industry report, revealing key trends and operational challenges that are reshaping the insurance claims environment worldwide. The report sheds light on the mounting pressures insurers and claims professionals face.

article thumbnail

NCCI AIS 2025: Key Insights on Workers Comp

Triple-I: Workers Compensation

Claim Trends: Lost-time claim frequency declined by 5 points in 2024, which is a faster pace than the long-term average of -3.6 Both medical and indemnity claim severity increased by 6 points in 2024. Leisure & Hospitality: Restaurant claim frequency declined in 2022 and 2023, potentially due to increased automation.

article thumbnail

Common Commercial Insurance Mistakes (and How to Avoid Them)

Mark Jackson Insurance Agency

Choosing the Wrong Deductible It’s tempting to choose a higher deductible to lower your premium, but that can backfire in the event of a claim. If the deductible is more than your business can comfortably pay, you might delay repairs or go without needed replacements. Talk with one of our agents to help identify any coverage gaps.