commercial | Insurance Software development

What does General Liability Commercial Insurance (ACORD 126) mean?

Author - Webner
08/31/2020
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4:39 am
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0 Comments
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ACORD AL3, Insurance
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Post Views: 272

Introduction

Commercial General Liability (CGL) insurance is defined as an insurance policy that covers a business for bodily injury, personal injury, and property loss caused by the business’s operations, outcomes, or injuries that occur on the business premises. This liability insurance is also considered as comprehensive business insurance, though all risks a business may face are not covered by this liability insurance. Business companies can add other companies or individuals they contract with to their commercial liability insurance policy as an “additional insured.”

What does a Liability Commercial Insurance Policy Cover?

Commercial general liability policies […]

What is Inland marine Commercial Insurance(ACORD 152)?

Author - Webner
08/17/2020
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6:08 am
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0 Comments
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Insurance
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Post Views: 643

Introduction

As we know, “marine insurance” is a coverage policy that covers products when transported over water. Unlike marine insurance, inland marine insurance covers goods, materials, and equipment when transported over the land. This transportation may be via truck or train—or while temporarily warehoused by a third party.

This insurance can cover a wide range of specialty equipment and products, including:

Computers, everything from servers to laptops.

Communications and networking equipment.

Construction and contracting equipment.

Medical and scientific equipment.

Photography equipment.

Coverages included in an Inland marine Commercial Insurance Policy

When weighing the need for […]

What is a commercial package insurance policy?

Author - Webner
06/15/2020
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6:27 am
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0 Comments
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Insurance
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Post Views: 408

Introduction

Commercial package policy commonly known as a CPP is an insurance policy that is designed to protect a business from various types of commercial risks. It combines coverage for multiple risks, such as liability and property risk in a single policy. Under a CPP, a business owner may combine several types of coverages and pack them so that they cover the specific risks that a business may be exposed to. The advantage of a commercial package policy is that it allows a business owner to pay out a lower amount of premiums than if the business owner […]

What is a Commercial Auto Insurance Policy?

Author - Webner
06/01/2020
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6:27 am
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0 Comments
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Insurance
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Post Views: 419

Introduction to Commercial Auto insurance policy

Commercial auto insurance policy is needed by a business that requires a vehicle for its operations. This policy protects small businesses when their vehicles are involved in a collision or are stolen, vandalized, or damaged. It also provides financial support to repair or replace the vehicle and covers related medical costs and third-party property damage. The premiums are higher for commercial auto insurance policy as compared to the standard motorist policy. The reason behind higher premiums is that the vehicles for business purposes are often more susceptible to risk.

Commercial auto […]

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