Monday, April 26, 2010

Commercial Insurance

Hello fellow Insurees!

Today I’ll be blogging about Commercial Insurance. Don’t worry, this post won’t be a bunch of huge paragraphs with words nobody has ever heard of, just the basics broken down into easy-to-understand language! I thought this would be appropriate regarding the recent news about the floods that are taking over the farmland in Australia. Are they insured? Will the farmers get their products reimbursed?

Anywho, back to business! I’ll be touching upon what I thought were key elements in the material into 2 separate categories:
a) Property Insurance
b) Crime Insurance

So first off, property insurance. What does this include you ask? As you can imagine, property can mean anything from buildings and equipment to goods in possession of sales representatives. Depending on what type of plan you sign up for, you can specialize or generalize your coverage. To add on, there will be a huge difference in plans depending on if you own a small retail store versus a large multi-million dollar enterprise.

Next, we will discuss crime insurance. Crime insurance may seem simple to identify, but in reality it is a detailed process to construct. Thank goodness I have a handbook ready for me to refer to. When insuring an insuree against crime, there are 5 premises. Employee dishonesty, inside and outside premises, money order, counterfeiting and forgery.

So! Did you gain any new knowledge today? I hope you did. If you want to find more information about commercial insurance, please feel free to contact me through my e-mail to info@biis.ca or ariel@biis.ca !

Thanks for reading!
Make sure to check my posting next week where I’ll be blogging about other insurance topics.

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