When it comes to determining how insurance companies arrive at rating different type of commercial property, it’s important to determine and understand the various scenarios for rating damage by fire.
Let’s face it—the past few years, and even as far back as ten, have been tough when it comes to rates in both insurance and reinsurance.
Here at New Empire Group, we have a policy of always making sure we are there for our clients, not only of course physically, but mentally and emotionally.
Why mention emotionally? Because we are in the middle of something unknown, something that takes our breath away with its sheer magnitude; both metaphorically and, unfortunately, literally.
With the hottest temperatures of the season set to arrive within the next few weeks, it is important to for your property manager clients to prepare themselves and their buildings! Extreme heat can stress property management assets beyond their limits.
A customer slips on the wet floor in a strip mall and injures herself, breaking her hip. Is your client prepared for the financial hardship that can ensue from this accident on their property if they do not have a commercial umbrella policy in place?
The above ground fuel oil tank located in your insured’s building’s basement was overfilled when the deliveryman was distracted while playing games on his smartphone. An inch of oil covered the floor around the tank and damaged the personal property that several tenants were storing in the area.
Coverage for storage tanks is often overlooked.
Property Owners, Coop Boards and Landlords research and deal with many different types of insurance policies for their property. One of the most commonly overlooked (and one of the most important) types of insurance is the umbrella insurance policy. It’s important to let your client’s know that primary coverage may not be enough to cover them in the event of a catastrophic claim. This is where their umbrella insurance would come into play.
The 2020 Hurricane season begins on June 1st! Now is a great time to remind your client’s to review their insurance coverage.
Most of the country is currently under some form of stay-at-home order due to the COVID-19 pandemic. Trying to stay on top of the CDC’s guidelines as well as local and state government orders is proving to be quite challenging.