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Proper insurance coverage protects your small business from unexpected circumstances and costs. Yet, according to the 2023 Hiscox Underinsurance Report, 75% of small businesses in the U.S. don’t ...
Starting your own business requires a significant investment of both time and money. Millions of people continue to step up to the challenge with 33 million small businesses active in the U.S. as ...
The policy term is the period that an insurance policy provides coverage. Many policies have a one-year term (365 days) but other terms both longer and shorter are used. Policy terms can be for any length of time and can be for a short period when the period of risk is also short or can be for multi-year periods.
Insurance companies themselves, as well as self-insuring employers, purchase stop-loss coverage for a premium to protect themselves. [1] In the case of a participant reaching more than the specific (or "individual") stop-loss deductible ($300,000, for example), the insurer will reimburse the insured (the company, not the participant) for the remainder of the claim to be paid over that ...
Weather cancellation insurance reduces an organization’s risk in planning an outdoor event. When a company or organization is holding a concert, running a special event, having a sale, or executing any form of outdoor activity and the weather prevents that activity from taking place, the organization risks losing whatever money that has been invested in the planning, organization, marketing ...
Organisers of large sporting and entertainment events typically buy event cancellation insurance, much of which tends to be insured through the Lloyd's of London market by a consortium of insurers.
Key person insurance, also called keyman insurance, is an important form of business insurance.There is no legal definition of "key person insurance". In general, it is an insurance policy taken out by a business to compensate that business for financial losses that would arise from the death or extended incapacity of an important member of the business.
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