When To File (or Not File) a Homeowners Claim
August 19, 2024
Home insurance premiums have been increasing, and obtaining coverage can be challenging in what's known as a "hard market."
When extreme weather and catastrophic events put demands on the insurance industry, this reflects in premiums and renewals. Insurance companies take on less risk and increase their rates to keep pace with rising claims, litigation and higher...
The Pros and Cons of Renting vs. Owning a Home
August 19, 2024
Renting and owning a home are two different paths to achieving shelter and establishing a living space. Each option comes with its own set of advantages and disadvantages. Let's explore the pros and cons of renting and owning a home:
Renting a Home:
Pros: Flexibility: Renting offers greater flexibility, allowing you to easily relocate as needed, especially...
What Is Professional Liability Insurance?
July 24, 2024
Professional liability insurance is commonly purchased by professionals and service providers to protect against claims of financial loss due to a failure to meet their profession’s standard of care.
Professional liability, also referred to as errors and omissions insurance, typically covers negligence, errors, omissions, and other mistakes you may make that could financially harm a client....
Benefits and Risks of Artificial Intelligence in the P&C Insurance Industry
July 16, 2024
Artificial intelligence (AI) enables computer systems to accomplish tasks that normally require intelligent human behaviour. Examples include information gathering, data analysis and decision-making. It’s currently being used in customer service, claims processing, underwriting and fraud detection. Many insurance firms and carriers are also using it for job postings and hiring.
You may have seen natural-sounding chatbots...
Assisted Living Facilities Face Daunting Liability Challenges
July 9, 2024
With residents of different ages, health profiles and ability levels, your organization must be agile and aware when it comes to protecting them and your company. Insurance and risk management are the two best ways to mitigate the perils that long-term care facilities face. Let’s look at some basic liability coverages and recommended additions.
Commercial general...
Insurance TLC for Senior Care Facilities
June 27, 2024
Nursing homes are a vital part of caring for the elderly and disabled. But for them to operate at their best, they need to have adequate protection from financial loss. Just one uninsured catastrophe could hurt the entire community.
There are two primary insurance coverages nursing homes need: property and liability. They are available through stand-alone...
Condo Board Liability Checklist
June 20, 2024
Whether it’s for a small group of flats or a high-rise with hundreds of residents, being on a condo board is serious business. Condo boards make critical decisions that affect building maintenance, operations and residents. Use this checklist as a start for risk planning and stay ahead of your board’s liability exposure. Take meeting minutes...
Tune Up Your Auto Repair Shop Insurance
June 3, 2024
Safety challenges and the potential for substantial financial loss are increasing for service stations and auto repair shops. The escalating cost of used cars and the risks associated with repairing electric vehicles are major concerns garages face.
Your insurance requirements as an auto repair shop are unique, and your insurance broker should be well-versed in your...
Insuring Your Commercial Property During a Vacancy
May 16, 2024
Commercial property owners are struggling to balance a positive bottom line as tenant vacancies and insurance premiums increase.
According to Moody’s Analytics’ Q4 2023 Preliminary Trend Announcement, commercial real estate is in limbo. Their analysis revealed the following trends: Multifamily, office and industrial spaces declined in rentals and sales High interest rates squeezed funding and refinancing...
