Tag: insurance policy
What is Insurable Interest?
Insurable interest is easy to understand on the surface level. However, in certain issues some things are not clearly defined, something that the courts are trying to establish more definitively. To answer the question “What is insurable interest?” you need to ask another questions “How will this scenario financially hurt me?” Insurable interest is the […]
read more »Managing Loss Control
Insurance is basically the transfer of risk from one party to another, in other words, you are transferring your risk to the insurance company by means of your insurance contract. This is only one part of Loss Control or Managing Losses. The following article speaks to Loss Control another step that you can take to […]
read more »Vacant Commercial Properties
Vacancy Provision Under a commercial property policy, coverage is often significantly different for buildings that are vacant for extended periods. Usually, certain types of coverage are completely eliminated during the vacancy. Insurance companies are interested in protecting ongoing businesses and premiums are based upon active occupancy. Continued, full coverage may be provided, but that is […]
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