Does an HO3 Cover a Dwelling Being Built in Another State?
An insured lives in Connecticut but is building a new one-family home on their property in Massachusetts.
Commercial Lines
1 in 4 Businesses Know They’re Underinsured As Catastrophe Concerns Increase
Despite rising concerns, 26% of commercial property owners admit to knowingly carrying inadequate insurance coverage to account for severe weather events, an 8-point increase from 2023.
NEXT Announces Multi-Location Workers Comp Coverage
The coverage allows small business owners with multiple locations to easily secure coverage through a single policy.
How Coastal Habitats Can Reduce Flood Losses and Create More Resilient Communities
Coral reefs, mangroves, salt marshes and seagrass meadows can significantly reduce flood losses in coastal areas, according to a Swiss Re Institute analysis of data.
An Overview of the Micro-Businessowners Coverage Form by ISO
The Micro-Businessowners Coverage Form—also known as the Micro-BOP—may be a good and inexpensive answer for your smaller entrepreneurs without commercial property exposures.
6 Ways to Protect Buildings from Severe Convective Storms
As insurers increase their underwriting restrictions to limit storm exposures, risk mitigation is becoming more important than ever for commercial insureds.
4 Insurance Challenges for Section 8 Landlords
The guidelines for the federally funded program include maintaining properties in compliance with local housing codes, passing periodic inspections by housing authorities and following strict eviction and lease termination procedures.
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.
Driver Overconfidence Is Making Distracted Driving Worse
Most drivers believe other motorists’ driving behaviors are bad and getting worse, according to Nationwide. Yet most rate their own driving very highly, despite participating in the same risky behaviors.
Cannabis Operators Struggle as Regulations Shift on a State-by-State Basis
Challenges persist for the cannabis industry due to changes in the regulatory landscape, an increase in product recalls, increasing premiums and industry consolidation.
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