Heavy rain overwhelmed a French drain outside of a commercial insured’s building, which caused water to back up into the building. The carrier denied the claim because the drain was exterior.
From hurricanes in the Southeast, wildfires in the West and severe convective storms in between, catastrophes are a defining feature of the current insurance landscape and are changing property insurance.
After a fire destroyed a golf course’s maintenance building, the carrier refused to cover the extra expense to convert another building into a maintenance building.
With ongoing wildfires in the West and an above-average Atlantic hurricane season predicted, it’s essential for independent insurance agents to educate clients on how their policies can cover evacuation-related expenses.
A major overhaul of the ISO Business Owners Policy (BOP) means that automobile service operations can be included on the form as of July 1, 2025. Here’s an overview of eligibility, endorsements and exclusions.
Proactive conversations with clients about catastrophe risks can surface potential coverage gaps and open the door to more forward-looking planning.
2024 saw the second-highest amount of tornadoes on record and 2025 is predicted to continue above-average activity. One weekend alone in mid-May caused $9 billion-$11 billion in damage.
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.
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.
Following a brief lull in tropical activity in the wake of Hurricane Ernesto, the conditions are now primed for a series of back-to-back storms over the next few weeks in the Atlantic.
