Courtesy of iii.org I came across this from Swiss Re around 2 a.m., which helps explain why it caught my (sleepy) eye: Consider these two facts: Firstly, two out of three man-made losses worldwide are due to human failure. Based on Swiss Re’s sigma research, this would mean that people trigger a loss volume of around USD 3 billion per year. Secondly, life insurance generated premiums of USD 2.6 trillion in 2017. These two facts are linked because tired people make more errors and …
Insurance
Cyberrisks, Are You Complacent?
Courtesy of iii.org A lawyer once warned me during a seminar that I should never, ever send an email – ever. “Get on a phone instead,” he counseled. (I assume he hadn’t watched The Wire.) Impossible to follow as his advice was, it stuck with me because he was right, in a way. If there’s anything we should’ve learned after all the data breaches these past few years, it’s that nothing about our online lives is safe from prying eyes. Not Social Security numbers. Not medical records. And …
Boating Insurance Checkup
Courtesy of iii.org Insurance can provide limited coverage for property damage for small boats such as canoes and small sail boats or small power boats with less than 25 mile per hour horse power under a homeowners or renters insurance policy. Coverage is usually about $1,000 or 10 percent of the home's insured value and generally includes the boat, motor and trailer combined. Liability coverage is typically not includedbut it can be added as an endorsement to a homeowners policy. Check with …
Insurance Considerations of Airbnb
Courtesy of iii.org Before you consider renting out your home, your guest room—or even your couch—first contact your insurance professional so you fully understand the financial risks and can take the proper precautions. Here's some general information to jumpstart your insurance conversation. If you are considering renting out your home, your guest room or even your couch your first step should be to contact your insurance professional. Peer-to-peer home sharing opportunities such as …
Do You Need More Insurance?
Courtesy of iii.org Coverage needs change as circumstances in our lives change; an annual insurance review will ensure you have the proper coverage for your needs and budget. Our insurance needs change as circumstances in our lives change, which is why we recommend doing an annual insurance review. When you’re reviewing your insurance coverage, these ten questions can help you figure out whether you may need to talk to your insurance professional about making a change to your …
Business Interruption Insurance – What is it?
Courtesy of iii.org Business interruption insurance can be as vital to your survival as a business as fire insurance. Most people would never consider opening a business without buying insurance to cover damage due to fire and windstorms. But too many small business owners fail to think about how they would manage if a fire or other disaster damaged their business premises so that they were temporarily unusable. Business interruption coverage is not sold separately. It is added to a property …
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