Risk exposure is a technical term that insurance professionals use to describe the possibility of loss associated with a specific business or activity. They calculate it by multiplying the probability of risk by the total amount of loss that could occur. There are two types of manufacturers risk exposures: pure and […]
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Insurance is necessary to protect your home, auto, business, and other important assets. However, there are times when you may have an insurance policy lapse for reasons such as nonpayment or noncompliance with certain provisions. Here’s what happens when you get that dreaded notice that your policy has lapsed. You […]
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While insurance agents are considered the experts in claims and liabilities, they themselves experience a number of risks that require insurance coverage. There are unique aspects to their job duties that present concerns that would vary from a manufacturing company or financial provider, so general liability insurance isn’t going to […]
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Oil spills at sea cause great harm to the environment, to animals, and to humans. Whether they are due to carelessness or are tragic accidents, reparation must be made. To address this issue, in 2001 the International Convention on Civil Liability for Bunker Oil Pollution Damage was adopted, and it […]
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Owning a marina can put you in an industry where you can thrive. However, there are plenty of risks involved in this field. Your business operations involve vessels that operate on navigable waters. This means that you need to adhere to regulations and restrictions placed on your business by governing […]
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Construction companies that rely on equipment such as cranes, bulldozers, and front loaders face significant risks. Contractors should obtain heavy construction insurance to cover their financial assets in the event equipment breaks down or needs replacing. Ideal coverage allows a contractor to replace damaged or stolen equipment. Most insurance policies […]
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When a family finds finances getting tight, they often have to make the tough decision to let some things that they enjoy go. If things continue to get worse, a homeowner may choose to let their homeowners insurance lapse, but this is one of the worse things they can do […]
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In most states, you have a choice of workers compensation coverage, giving you the option of shopping around to help save costs. What you might not realize is that there are risk transfer options outside of coverage through a regular insurance carrier that could satisfy your state’s requirements for coverage […]
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