The COVID-19 pandemic had forced business closures for months causing great losses to businesses all around the world. Economic conditions are getting worse than ever before, forcing governments to make decisions regarding business reopening. Despite the cure for a viral outbreak that has yet to be found, business owners are willing to reopen businesses with [...]
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The pandemic situation has left business owners in complete despair along with huge financial losses that seem never-ending. As entrepreneurs are looking for ways to mitigate their losses, they are reviewing their business insurance policies and coverages. Coronavirus pandemic has created situations that are very sensitive and subject to change. Therefore, it is advised that [...]
[Congressional Bills 116th Congress] [From the U.S. Government Publishing Office] [H.R. 6494 Introduced in House (IH)] 116th CONGRESS 2d Session H. R. 6494 To make available insurance coverage for business interruption losses due to viral pandemics, forced closures of businesses, mandatory evacuations, and public safety power shut-offs, and for other purposes. _______________________________________________________________________ IN THE HOUSE [...]
Companies get their businesses insured to mitigate losses that could be faced in the future due to a halt in operations. The halt in operation is usually due to physical damages that a business may face. However, the pandemic has left business owners helpless with the closure of their businesses due to the viral outbreak [...]
Undeniably, nothing else calamity in the modern age has actually influenced organizations the means the COVID-19 situation has in just a matter of weeks. And also the possibility of dealing with an additional pandemic in the future is a distressing one. Without a doubt, no other disaster in the modern age has impacted businesses the way the [...]
The world of today is heavily dependent on online services which come along with a great risk for the protection of sensitive data shared online. Cyber insurance is exactly what businesses use to hedge the risk of cybercrimes or any theft of stolen sensitive data. Cyber risk insurance or cybersecurity insurance provides businesses with protection [...]
Parametric insurance is an insurance that does not cover for pure loss, instead, a predetermined payment is received upon the occurrence of a catastrophic natural event which results in a loss. An individual will have to purchase the parametric insurance with a predefined amount that will be paid out as agreed on predefined terms. Unlike [...]
The loss of income and the additional expenses that occur after a direct loss to property can be devastating to a business. All aspects of the insured’s property and operations must be considered when addressing such potential loss exposures because properly structured consequential loss insurance will be needed to ensure that the business survives. Theoretically, [...]