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...
What Are Some Common Exclusions On Commercial Policies?
May 10, 2024
While today’s commercial insurance policies provide broad coverage, all policies contain exclusions — things the insurer doesn’t cover under that particular policy. But this doesn’t mean you cannot obtain coverage. You usually can through a separate policy designed specifically for that risk.
Let’s look at some common exclusions.
Wear and tear
Most commercial property policies exclude losses that...
Protect Your Business from Social Media Risk
April 30, 2024
Social media platforms such as Facebook, Instagram, TikTok and X provide innovative ways to connect with your customers and market your business. You can communicate changes to business hours, exclusive sales and community activities, and interact with the public through online surveys, customer feedback and sharing.
But social media also poses risks to your business. Your...
A Commercial Umbrella Could Extend Your Liability Coverage for Less Than You Think
April 15, 2024
Post Insurance Services reports that employee lawsuits in the United States have risen a staggering 400% over the last 20 years. And over 40% of those lawsuits are brought against private companies with fewer than 100 employees.
Whether you settle or go to court, it's not cheap. "The cost of settling out of court averages $75,000,...
Cut Your Commercial Construction Risk
April 6, 2024
If you construct commercial or institutional buildings, you know the market for new construction has had its ups and downs. Contractors benefited from an uptick in commercial and multifamily starts in 2021 and 2022 only to see demand fall in 2023 due to rising interest rates and tight credit.
According to construction market research company Dodge...
Don’t Let Risk Eat Up Your Restaurant or Bar Profits
March 27, 2024
People who work in food service often aspire to run a restaurant or bar of their own. Many restaurant owners started their career as an entry-level food service worker. It can be a very rewarding business, especially if you love preparing food and interacting with people.
Managing a restaurant or bar is hectic, though. You have...
What is Product Liability Insurance?
March 23, 2024
Product liability is the legal liability a manufacturer or trader incurs for producing or selling a faulty product. The truth is, if you’re a part of the supply chain and an individual or group successfully proves they were injured by a product you sold or distributed, you are potentially legally liable. And that could cost...
Landlords, are you responsible for snow removal?
March 13, 2024
Who’s responsible when the snowflakes fly and the drifting blows over the walkways at your rental? You might have to clear away a few layers to get to the answer. Snow removal is a problem when you’ve got accessibility and public safety issues to consider.
Read your local ordinance for snow removal laws
It’s best to familiarize...
What You Should Know As a Landlord in Saskatchewan
March 4, 2024
As a residential building landlord, you bear a distinct number of responsibilities. With the many ways individuals are using their personal residences, it’s important to know your rights and obligations.
Saskatchewan’s Residential Tenancies Act states that a landlord is responsible for providing and maintaining the residence and rental units in a good state of repair, suitable...
