With advancements in technology and uncertainty surrounding the economy and workforce, there are significant changes to the way businesses are looking to occupy and utilize office space.
The Commercial Line
As the use of rooftop solar panels on both commercial and residential occupancies increases, so do the hazards associated with their installation.
Hydraulic fracturing, or fracking, has become a very controversial topic in today’s society. Fracking, for those unaware, is a technique for drilling deep under the Earth’s surface for natural gas. To drill for the gas, a well is drilled deep into the Earth’s surface, usually over 1-2 miles. Once deep enough to access the natural gas, the well turns 90 degrees and extends parallel with the surface. Chemically-treated water is then pumped into the well with a strong enough force to create cracks surrounding the well. The cracks release natural gas which is then pumped back up through the well with the fracking fluid.
Typically, when a company (or individual) rents partial space or the entire building from the owners of the building, they may be required to provide fire liability coverage or even broader liability coverage for the value of the section they occupy or the full value of the building. This is why it is important to carefully review all written lease agreements to truly understand what liability the tenant is assuming.
Consider how virtual reality technology could expand possibilities of insurance to auto and property underwriting and claims.
Crime and Fidelity Insurance is often overlooked. It can sometimes be overshadowed by one of the three major lines of insurance, including Property, General Liability, and Auto. While one should not minimize the importance of these three lines of business, it’s important to remember that there are other areas that also need a business owner’s strong consideration. Crime and Fidelity is one of those areas.
The simple answer is yes, because all farms have equipment breakdown exposure.
Farming operations continue to evolve in an effort to improve overall efficiencies and reduce costs. Today’s farms depend on many types of electrical, mechanical, and high tech computer equipment. Many farm and farm risks do not realize how vulnerable they are to an expensive equipment breakdown loss that could paralyze their operations.
Fast-casual restaurants are up-and-coming, trendy establishments attracting a large part of our population.
If your business uses equipment, employs personnel or handles data, you can’t afford to be without equipment breakdown, employment practices liability and data compromise coverage.
According to AM Best, the line of insurance at highest risk for loss to a real estate owner is liability. As a landlord, you do not have total control over the condition of a tenant’s premises or how they operate their business. This exposes you to potential risk of property damage or liability from exposures presented by the tenant. Risk transfer is one helpful solution.