Remove Commercial Property Remove Policy Remove Property Damage
article thumbnail

New Oklahoma Law Limits Post-Loss Assignment of Benefits on Property Damage

Insurance Journal

Oklahoma lawmakers this legislative session passed a bill limiting post-loss assignment of benefits for property damage under auto, residential or commercial property insurance policies. House Bill 1084 prohibits the solicitation or acceptance of an assignment of any post-loss insurance benefit …

article thumbnail

Lack of Insurable Interest Precludes Recovery for Property Damage

The Property Insurance Law Observer

2025)), the United States District Court for the Southern District of New York determined that the plaintiff lacked an insurable interest in property it insured because it did not own or possess the property or suffer economic loss due to the propertys destruction. Hawley Insurance Co. 2025 WL 371016) (S.D.N.Y.

Insiders

Sign Up for our Newsletter

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

article thumbnail

The Importance of Commercial Property Insurance for UK Small Businesses

Protect Commercial Insurance

Introduction When it comes to safeguarding your UK small business, one crucial aspect is often overlooked: commercial property insurance. This essential coverage acts as a safety net, protecting your investments from unexpected setbacks like theft, damage, or natural disasters. But what exactly does it entail?

article thumbnail

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. What is a Business Owners Policy (BOP)? A BOP is an efficient way to safeguard against these operational risks with one comprehensive policy.

article thumbnail

Insurance Considerations When Expanding Your Business to a New Location

Mark Jackson Insurance Agency

Brick commercial office building by Binyamin Mellish Expanding your business to a new location is an exciting step toward growth, but it also introduces new risks. From property protection to liability coverage, ensuring your business insurance policies align with your expansion is critical.

article thumbnail

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

Paragon Independent Insurance Agencies

Beyond vehicle coverage, you may also need general liability insurance, which protects against third-party claims for injuries or property damage during business operations. If you own a physical location, commercial property insurance can help protect your building, inventory, and equipment from fire, theft, or natural disasters.

article thumbnail

HOA Insurance: Everything You and Your Clients Need to Know

Distinguished

With all of these responsibilities and people involved, problems will arise — and when they do, they’ll need a good broker with the right HOA insurance policy in their corner. This guide will bring you up to speed on the basics of HOA insurance: what it covers, which policies are needed, and how much this may cost.