Data-Based Insurance With Rapid Payouts
If the storm track intersects the coverage radius in a policy, the insured gets a payout. No questions, adjustors or proof of loss.
Strategies
ACV or RC for CGL Property Damage Claims?
A contractor with an ISO commercial general liability policy experienced a property damage claim. The carrier says it owes the actual cash value (ACV) for repairs but the agent believes the carrier owes the full cost to repair.
Delayed Repairs and the ‘Delay, Loss of Use or Loss of Market Exclusion’
A client’s commercial property suffered wind damage. Repair estimates were approved, but weather delayed the repair and the costs increased. The adjustor is denying the additional repair costs.
How to Help Construction Clients Navigate Wage and Materials Inflation
With factors such as an aging workforce and economic fluctuations pushing material and wage costs higher, agents can help their clients purchase adequate builders risk coverage.
Building Demo: Coverage for Damage to Surrounding Buildings?
An insured has hired a company to demolish an old building, on which they have liability coverage, that has a common wall with the property next door.
What Is a Wind or Hail Buyback Policy?
How do you explain how a wind or hail buyback policy works? And is a deductible applied to these types of policies?
BPP vs. PPO: Contractor Storing Materials Purchased by Client
If a contractor receives payment before delivering the materials to the final installation point, are the materials still business personal property or have they become the personal property of others?
