Whether you have insured a small business or a multinational enterprise, commercial general liability insurance should always be present. It is a fantastic way to protect property, and yourself, against damages that could be experienced by you or others because of professional negligence during business operations. But in a digital world, manual entry of claims is disappearing so it is time to start considering Commercial General Liability in the 21st Century According to Investopedia, Commercial General Liability insurance is commonlyRead more
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Prevention is Key When you purchase a cyber policy, you should maintain appropriate security measures to prevent a cyber incident from happening in the first place, as discussed in parts one and part two of this series. In this case the focus will be in actions you can take to reduce cyber risks. Imagine an employee accidentally opens a link in an email. This link turned out to be attachedRead more
As discussed in part 1, cyber insurance can protect your business against cyberattacks. In the second part of the series, the focus will be on how costs are calculated in cyber insurance. How to Calculate the Cost of Cyber Insurance A study performed by AdvisorSmith Solution Inc found that the average cost of a cyber liability policy in 2020 was around $1,500 perRead more
Artificial Intelligence (AI) in the insurance industry is a form of technology that allows computer systems to accomplish tasks without human intervention. These task involve Gathering information; Analyzing data by running models for example of projected sales. Finally, Automatically making decisions, which is essentially automating a task. AI is turning the insurance industry around. The uses of AIRead more
What is Commercial General Liability? What happens when someone is shopping at the supermarket and a display of soda cans collapses on them?. In a case like this, commercial general liability provides coverage to the grocery store for bodily injury, personal injury, and property damage. 1. Does commercial general liability cover everything surrounding my business? Although it is considered “comprehensive,” not all risksRead more
Implementing technology in insurance claims can automate the process, leaving you with more time and improve the overall claims process. We’re breaking down the top five ways that insurance claims automation can help your business, and how claims management creates a powerful feedback loop that can automate claim processing. 1. Prevent Insurance Fraud There areRead more
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