Commercial Property

What can begin as a relatively small issue on a roof can rapidly escalate into a costly property loss and prolonged business interruption for property owners.

Commercial lines markets may be stabilizing, but agents who use this period to reset and prepare will be best positioned for what’s ahead.

Parametric insurance has been around for many years, but with increased data granularity and availability, these special policies are now widely available to fill coverage gaps under admitted policies.

A restaurant owner rents a building and has a tenant’s policy for contents and liability. A furnace caught fire and the owner says the tenant is responsible for the damage.

On this episode of Agency Nation Radio, we meet Robert Strachan, President of Strachan Novak Insurance in Twinsburg, Ohio. 

Along with precise building valuations, Construction, Occupancy, Protection, and Exposure (COPE) forms the backbone of any commercial property risk assessment.

As demand for data centers and energy storage accelerates in the coming year, these contaminated industrial sites will find new life as technology hubs.

A general contractor filed a claim after tools were stolen from an employee at an active construction project location. The carrier denied coverage, saying that the tools were not located at the insured’s premises.