Tag: business insurance policy

What does catering business insurance cover for small business owners?

Julie Campbell
Catering Business Insurance - person serving food

This type of commercial policy is designed to cover the liabilities specific to this type of company. Catering business insurance is a type of commercial coverage designed to provide small business owners with protection against the liabilities specific to this type of service. These entrepreneurs don’t always recognize all the risks associated with food service to large groups. The standard catering business insurance policy provides coverage against the risks to which these businesses are most commonly exposed. These include risks such as: • Third party injuries, • Damaged equipment, •…

Read More

What can fitness experts expect from personal trainer insurance?

Julie Campbell
Personal Trainer Insurance - Personal Trainer

Fitness experts face a number of liability exposures and need commercial policies designed to protect them. Personal trainer insurance is a category of commercial policies created for the protection of these fitness professionals. Many trainers think they’re covered with a general liability business policy but may need more. Though the basic level of personal trainer insurance typically does involve commercial general liability coverage, there are other policies that better cover a fitness expert’s exposures. Indeed, it’s easy to remember the need for third-party bodily injury, reputation harm and property damage,…

Read More

Steadfast Insurance files lawsuit against oil and gas companies for causing earthquakes

G. Turner
Steadfast Insurance - Oil and Gas Drilling Rig

The insurer is suing seven oil and gas companies in order to achieve subrogation for quake damage. Steadfast Insurance Company is suing seven oil and gas companies, seeking subrogation in an effort to recover the almost $400,000 it has paid out in policyholder claims. The lawsuit is over the wastewater injections that occurred near Pawnee. The complaint is not entirely unique, as four other pending lawsuits of a similar nature have been filed. On September 3, 2016, the Pawnee Nation’s government buildings were damaged by a magnitude 5.8 earthquake. Since…

Read More

North Carolina officials target employers without workers compensation

Julie Campbell
workers compensation insurance

The Industrial Commission has already fined and charged companies operating without proper insurance. In North Carolina, the Industrial Commission, the authority responsible for the enforcement of laws regarding workers compensation, has now started to target employers that have not been carrying adequate insurance in order to comply with the state’s laws. As a result of the crackdown that has been occurring over the last year, $1 million in civil fines have been collected. These civil fines were collected from companies without adequate (or any) workers compensation coverage. Moreover, beyond fining…

Read More

Cyber insurance industry is hunting for expertise

G. Turner
risk industry cyber insurance

As the demand for this risk coverage skyrockets, insurers are looking for experience and skills in handling the problem. While insurers are watching the tiny cyber insurance coverage market spike and grow at an exponential rate, they frequently don’t have the type of skills and experience that are necessary to actually handle data breaches and hackers to be able to provide the type of service that would be required to offer this type of product. It is becoming almost commonplace to hear about high profile data breaches among massive corporations.…

Read More

Business insurance claims denied to vendors at hugely popular farmer’s market

Julie Campbell
st jacob farmers market fire business insurance

Some of the sellers at the St. Jacob’s Farmers’ Market which was destroyed by a fire will not receive a payment. The start of September brought devastation to a farmer’s market so unique that every year, it brings in crowds from around the world, but business insurance couldn’t save some vendor from the losses that were incurred from a massive fire that destroyed the main building. Early on Labor Day morning, flame engulfed the sprawling two-story building, leaving only rubble behind. Now, several St. Jacobs Farmers’ Market vendors are being…

Read More

Liability insurance demand is increasing in India

G. Turner

Companies are experiencing exponential increases in the number of lawsuits and need protection. In India, businesses are experiencing an increase in the number of lawsuits that are filed against them, at a rate of 30 to 40 percent per year, which has caused companies to flock to their insurers to purchase liability insurance. This has boosted demand in that sector at a staggering rate, with an estimated growth of 10 to 20 percent annually. Among the more popular forms of liability insurance that businesses are purchasing include credit, director and…

Read More