Cyber liability is if you’re a business and somehow someone hacks into your business and takes those important files for your business as ransom and will only give them back to you for a certain amount of money. Now, if you have cyber liability coverage that could potentially cover you in that situation. Worst case … Continue reading “What is cyber liability coverage, and how do I assess the value of a claim?”

This is the same situation for a homeowner. If you’re a business owner with commercial liability insurance, and somebody gets hurt in your business, that person who gets injured can make a claim against you for their bodily injuries. So, an injury can happen where someone slips on coffee or something wet on the floor … Continue reading “What happens if someone gets injured at my business?”

Liability is only going to cover you when someone is making a claim or potentially suing you for some sort of bodily injury or property damage. If you’re being sued, that’s a liability claim, there’s some sort of event happened at your business/ Liability protects you against lawsuits for property damage or bodily damage when … Continue reading “What is a liability claim?”

An equipment breakdown claim is similar to other business interruption claims. Just like the restaurant I discussed in a previous video, a restaurant owner may have equipment that’s used to cook the food or keep it cold. If for whatever reason, these pieces of equipment have issues, they have to be replaced. The equipment breakdown … Continue reading “What is an equipment breakdown claim?”

What about loss of inventory claims? I represented a restaurant where the power went out during Hurricane Irma and much of their items were refrigerated so they had to throw it away because there was no power for a week, things are going to spoil like food in a matter of days or even shorter … Continue reading “What about loss of inventory claims?”

Business Interruption insurance covers you for situations when you’re not able to operate your business. Let’s say that your business has a fire, all of a sudden you have to shut down your business while they restore it. Everyday your shut down, you know that you normally make a certain amount of money. Based on … Continue reading “What is a business interruption claim?”

Business insurance claims are very similar to home owners. If you’re a business owner, you have water damage issues due to a plumbing problem you may have in your business, you could have a fire in your business, you could also have hurricane damage or you can even have a theft or vandalism claim. Just … Continue reading “What types of claims can be made for business insurance policies?”

The duty to indemnify is the next step after the duty to defend. Let’s say that the insurance company determines that they do, in fact, have the duty to defend you against any claims for bodily injury or property damage. Now, the next step is they look deeper at your policy, they check any case … Continue reading “What is the duty to indemnify?”

When you have liability insurance, the first thing, the insurance company looks at is whether they have a duty to defend you in any sort of claim or lawsuit that is being brought against you for bodily injury or property damage. The duty defend looks at the language in the lawsuit that’s being brought against … Continue reading “What is the duty to defend?”