Business Interruption Insurance Tag

26 Aug Understanding The COVID-19 Business Interruption Insurance Quandary

Posted at 14:10h in Commercial Insurance

This article was originally published in the Summer 2020 issue of ActionLine, a Florida Bar Real Property, and Trust Law Section publication. The coronavirus disease 2019 (COVID-19) pandemic appears to have softened the ground for a legal battle between commercial property insurance companies and the growing...

10 Feb Using the Benefits of Representations and Warranties Insurance When Buying or Selling a Business

Posted at 14:41h in Commercial Insurance, Professional Liability, Risk Management

Deals to buy or sell a business typically include statements of fact by the seller about the business. These representations and warranties are then combined with indemnification provisions to allocate risks and liabilities between the parties. Negotiating representations and warranties can be challenging, and deals...

03 Sep Understanding Business Insurance: What is BOP?

Posted at 13:17h in Commercial Insurance

Many businesses take a piecemeal approach to buying insurance. One policy for property insurance, another for liability insurance, and so on. Unfortunately, this approach can be difficult and time consuming, particularly for small- and medium-sized businesses. For these businesses, a Business Owners Policy, a BOP,...

19 Aug Every Business Should be Worried about Cyber Liability

Posted at 13:12h in Commercial Insurance, Risk Management

Regardless of industry, cyber attacks and data breaches expose businesses to potentially enormous losses and liabilities. According to a report by the Insurance Information Institute (III), the potential economic fallout from the cyber threat cannot be underestimated, particularly because the number of publicly disclosed data...

18 Jun Loss of Business Income Caused by Civil Authority Action

Posted at 18:55h in Commercial Insurance

Public safety concerns may prompt civil authorities to take action to protect people and property. For example, a governor can issue a mandatory hurricane evacuation, a mayor can close roads during inclement weather, the police can enforce curfews during riots, or a fire department can...

19 Feb Let’s Talk About Data Security Breaches

Posted at 14:41h in Commercial Insurance, Cyber Risk, Risk Management

The theft of credit and debit card information from Target’s computer systems should serve as a reminder that the risk of a data security breach must be taken seriously. Every organization must have a plan to not only prevent data security breaches, but to respond...

02 Jan Data Security Breaches: Lessons from 2013

Posted at 20:33h in Commercial Insurance, Cyber Risk, Risk Management

They say that those who fail to learn from history are doomed to repeat it, and 2013 provided many lessons for those wishing to avoid a data security breach. Let's review some of 2013's data security breaches so that they do not have to be...

04 Jun Are You Ready for the 2013 Hurricane Season?

Posted at 14:54h in Commercial Insurance, Condominium Governance, Personal Insurance, Risk Management, Safety

For those living or working in areas at risk of experiencing a tropical storm or hurricane, June 1st rarely passes unnoticed. At Setnor Byer Insurance & Risk, we understand that preparing for Hurricane Season is rarely easy and often stressful. We also understand that a...

11 Dec Insurance Designed for Self Storage Facilities

Posted at 13:52h in Risk Management, Self-Storage

When considering insurance, owners and operators of self storage facilities often focus on traditional coverages despite facing risks that are unique to the self storage industry. As a result, some of the biggest risks faced by self storage facilities remain uninsured. To avoid this problem, owners...

17 Oct Did You Know? October 2008

Posted at 16:03h in Commercial Insurance, Risk Management

Did you know that in the event of a disaster, business interruption insurance can be just as vital to the survival of your business as coverage for your building and its contents? While many business owners are concerned about property damage and the accompanying financial loss...