Remove Commercial Property Remove Compensation Remove General Liability
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Ivans Index Shows Most Commercial Lines Renewal Rates Up in November

Insurance Journal

Most major commercial lines premium renewal rates were higher month over month, except general liability, which remained consistent with October and Commercial Property and Workers’ Compensation which saw a decrease, according to the November 2024’s results of the Ivans Index.

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Business Owner’s Policy for Restaurants

Distinguished

A Business Owners Policy, commonly known asa BOP bundles essential protections like property, general liability, and liquor liability into one streamlined solution. A critical component of property insurance for restaurants is business income coverage.

Policy 40
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P&C Insurance Achieves Best Results Since 2013; Wildfire Losses, Tariffs Threaten 2025 Prospects

Triple-I: Homeowners Insurance

Impending challenges and market pressures: The general liability segment is encountering increased financial strain, as evidenced by the least favorable NCR since 2016 and the third worst since 2010. In discussing general liability, Kurtz pointed out the substantial reserve strengthening undertaken during 2024.

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How Do You Know What Commercial Insurance Products Your Business May Benefit From?

Paragon Independent Insurance Agencies

It helps cover accidents, repairs, and liability claims, ensuring your business isn’t financially burdened by unexpected incidents. Beyond vehicle coverage, you may also need general liability insurance, which protects against third-party claims for injuries or property damage during business operations.

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How a Liability Claim Can Ruin Your Business – And How to Protect Yourself

Property Insurance Centre

The Financial Toll of a Liability Claim A lawsuit can lead to crippling legal expenses, compensation payouts, and increased insurance premiums. Without proper coverage, the company had to liquidate assets to cover legal fees and compensation, ultimately forcing them to shut down.

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Personal Lines Underwriting Results Improve, Reducing Gap With Commercial Lines

Triple-I: Homeowners Insurance

Commercial lines 2024 net combined ratio remained relatively flat at 97.1 Improvements in commercial property, commercial multi-peril, and workers compensation were offset by continued deterioration in commercial auto and general liability.

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Emerging Property Insurance Trends 2024

Property Insurance Centre

For instance: Residential properties: Homeowners may experience higher rebuild costs due to increased prices of building materials, such as lumber and roofing materials. Commercial properties: Business owners may face higher repair costs for their establishments, particularly if specialized equipment or materials are required.