Posts made in July, 2016

Understanding the Cost of Commercial Flood Insurance

Posted by on Jul 28, 2016 in News | 0 comments

Property owners of both residential and commercial units purchased more than $3.5 billion in flood policies last year through the National Flood Insurance Program (NFIP). The reason? More lenders may be requiring flood insurance—and yours could ask for it, too. Insuring your home or commercial building against flood risk is important, but it is also important to understand its cost. One way to ensure cost-control is with an error-free elevation certificate, says Michael Allison, president of AmeriFlood Solutions, Inc. The elevation certificate is a document that indicates the elevation of the property, which determines insurance premium rates. The certificate must be free of errors and omissions—either could potentially cost thousands in needless expense, Allison says. “A signed and sealed elevation certificated does not ensure accuracy,” Allison said in a statement. “More than 50 percent of the elevation certificates reviewed by our staff have errors. Further, outdated elevation certificates may not reflect building improvements or uncover documentation errors or omissions that can cause insurance agents, brokers and carriers to rate flood policies inaccurately. That can add up to a considerable difference in the amount paid for coverage or measures implemented to mitigate flood damage.” Allison recommends reviewing the elevation certificate with an insurance broker or agent or flood risk expert—they can help you determine if you are paying too much (or too little) for flood insurance. Source: AmeriFlood Solutions,...

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Demystifying Management Liability

Posted by on Jul 21, 2016 in News | 0 comments

Management liability threats can be mysterious for business leaders in private companies. Few understand the breadth of liabilities, their personal risk, and the remedies or protections. Our partner, Travelers helps businesses understand and demystify Directors & Officers Liability coverage.

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Risk Management Solutions for the Technology Industry [Video]

Posted by on Jul 8, 2016 in News | 0 comments

Mike Thoma, Chief Underwriting Officer for Travelers Technology, shares insights on insuring large technology companies. For more than 30 years, our partner, Travelers has served the technology industry, offering broad risk management solutions for a range of telecommunications, information technology, medical technology, and electronics manufacturing companies.

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