Who is Responsible for Improvements on Leased Property?

Businesswoman reviews lease agreement in office.

From spiffing up a single-bedroom apartment to overhauling a leased retail space, an improvement made on leased property changes the value of the property overall. Unlike with possessions, many improvements (or betterments) made to the property cannot easily be taken with them, so who is responsible for cover the increased value when it comes to insurance: the lessee or the landlord? Today we’re going to look at how improvements on the leased property should be covered and whose responsibility they should be.

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Protecting Your Business from Cyber Breaches

Breaches are beginning to become more and more common like any other disaster, and the after-effects of a breach can be long-term. Last year, there were 1,579 data breaches, exposing nearly 179 million records. That represents a 44% increase in the number of cyber breaches and a 389% increase in records exposed. In this blog we’re looking at how your business needs to plan for these incidents like any other workplace safety issue, using plans, policies, and insurance to keep you and your bottom line safe. Let’s start with terminology.

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The Relation Between Risk and Insurance

Man pulling a block out of towerAll insurance, from homeowners insurance for your home to health insurance for your body, is about chance. What is most likely to occur, and how often it can occur. The types of general insurance out there cover what they cover because those are the most likely risks that can occur. The frequency and cost to compensate for the risk explains how much you pay on your insurance premiums. By understanding the relation between risk and insurance, you get a better appreciation of insurance and how to reduce its costs. [Read more…]

Holiday Shopping Online: 5 Safety Tips

Person shopping online.Shopping online has made getting things for yourself and gifts for others easier than ever. This is true all year long, but especially during the holiday season where gifts for family, friends, and co-workers means your credit card and internet can be working overtime. And while all this money is flying around, there will be those online who want to take advantage of your spending spree. Keep your wallet and your gifts safe with these cyber safety tips for holiday shopping online. [Read more…]

Why Should a Business Protect Against Contractual Liability?

Business contract detailsOne heading in your general liability policy is Contractual Liability. Like all of the sections in your Business Owner’s Policy (BOP), it’s important to understand the purpose of this liability insurance, and why your company needs it. Contractual liability is when one party assumes liability on behalf of another through a contract between them. This coverage is supplied in most general liability policies. It can save you thousands of dollars in court fees if you know how this coverage works, as well as how to protect against contractual liability when it occurs. [Read more…]

Lifting Safety Practices and Workers’ Comp Insurance

Man places package on hand truck.Regardless of the industry you work in, everybody does a little lifting. You’ve probably gotten the sage advice to “lift with the legs, not the back”. However, in workplaces where lifting is commonplace, from retail inventorying to contractor construction, having the right measures in place can help avoid workplace accidents and injuries, and therefore help keep your workforce healthy and your workers’ compensation premiums low. It’s important to understand how these injuries occur, as well as the lifting safety practices you can provide to reduce the rate of injury. [Read more…]