Tag: Business Insurance

  • Insurance Insights for Unmanned Aerial Vehicles

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    The use of unmanned aerial vehicles (UAVs), typically referred to as drones, has become increasingly instrumental in a wide range of sectors, including construction, energy, real estate, and government contracting operations. As a result, the need for specialized insurance continues to grow. How Government Contractors Use Drones Many of today’s government contractors use drones as…

  • The Hammer Clause: How It’s Utilized to Resolve Disputes Between Carriers

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    When a business faces a liability claim, the complexities of layered insurance policies that come with primary and excess policies can complicate a resolution. One critical tool that comes into play in these situations is the hammer clause and its enforcement through a hammer letter. Understanding how these mechanisms work is important for policyholders. What…

  • Using Computer-Based Technology to Help Facilitate Safety Performance

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    Companies today use a variety of computer-based technology platforms (e.g., Smart Sheet, HammerTech, iAuditor, Origami, etc.) for measuring the performance of safety tasks that help prevent incidents and claims. For the most part, these platforms are blank canvases from which creative safety professionals are developing “leading indicator” masterpieces of safety responsibilities. Some examples we have…

  • Why Flood Insurance Is Needed Everywhere

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    Flooding events are happening everywhere, not just along the coast or in what were once considered high-risk flood zones. In 2025 alone, devastating floods hit places as geographically diverse as New York, Texas, Kentucky, and North Carolina, many of which aren’t traditionally considered flood-prone areas. Moreover, flood season is year-round. From snowmelt and stalled weather…

  • How to Minimize Business Interruption During Hurricane Season

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    As hurricane season nears, it’s important for business owners, operators, and managers to ensure they have a Business Interruption (BI) policy in place, which guarantees the business is protected from any losses caused by a storm or other natural disaster. This could include lost revenue, damaged facilities, and the cost of restoring lost or damaged…

  • How Disasters Revolutionized CAT Modeling

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    CAT modeling provides a probabilistic calculation of property loss expectancies associated with a variety of natural catastrophe perils. Insurers and lenders are keen to understand the anticipated loss expectancy associated with a portfolio’s exposure to a particular peril, e.g., windstorm, storm surge, flood, etc. Natural catastrophe insurance limits can be costly and should be accurately…

  • Rise of the Robots: Benefits, Challenges, Risks, and Mitigation of Industrial Robots

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    There have been multiple generations of industrial robots, beginning in the 1950s with Unimaton, the first company to exist specifically to manufacture such robots. The initial robots were called “Unimates.” These robots could perform a single task, such as removing die-cast parts in the automotive industry. Today, we have industrial robots, collaborative or “co-bots,” and…

  • Employment Practices Liability Insurance

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    Employment practices liability insurance (EPLI) provides coverage for allegations made by employees, former employees, job candidates, customers and vendors related to your business’s employment practices. Often these allegations result in litigation, with costs quickly adding up into hundreds of thousands of dollars. Whether you run an established company or are starting a small business, it’s…

  • Navigating the Hard Property and Casualty Insurance Market: Strategies for Apartment Owners

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    Insurance costs for multifamily property owners rose significantly in 2020, compounding an already challenging multifamily market. Apartment owners saw insurance rates rise as much as 30%; assets that were viewed as challenged by the insurance marketplace made up the highest end of the spectrum. An increase of $50 a unit for insurance cost is meaningful…

  • Responding to a Property Loss

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    Significant property losses present business continuity challenges for many organizations. Following are some strategies which may minimize further damage and help to expedite the claims process. Respond to the Loss Prevent Harm to Associates If appropriate, call 911 – Report the incident to authorities and follow instruction. Evacuate personnel to the designated assembly area or…