Cyber theft is a risk that is getting the attention of many business owners today. Alarmingly, 55 percent of small businesses have experienced some form of a cyber attack in the past 12 months. Even more astonishing, 60 percent of small businesses that experience cyber theft have to close their doors within six months. Many […]
Month: November 2017
Insurance Carriers Can’t Afford to Use Relaxed Underwriting Practices
The property and casualty insurance industry is currently dealing with a highly competitive market, which is leading to more lax underwriting practices. As a result, many carriers have found themselves in a precarious situation when dealing with the astronomical losses associated with recent storms Harvey, Irma, and Maria. The Impact of Storm Damage from Harvey, […]
How a Commercial Inspection Raises Awareness of Hazardous Property Conditions
Desperate times call for desperate measures. When the economy tanked in 2008, the number of lawsuits increased dramatically. While we’re fortunately now recovering from the Great Recession, businesses are still at risk of being served lawsuits from accidents that happen on their property. An example of one of these lawsuits recently happened to a city […]
Why Ask About Fire Extinguishers in a Residential Inspection?
When talking to insureds and underwriting a residential property, it’s important to ask the out-of-the-box questions to most accurately assess risk. One of the questions that you need to be talking to insureds about is if they have a fire extinguisher in the home. Even more important, is the fire extinguisher in working condition? Why […]