What is property insurance?
Property insurance can provide protection for the economic losses suffered by the company’s tangible assets due to underwriting risks (such as fire, flood, theft, etc.), and also provide for loss of profits and other related economic losses caused by the interruption of production operations due to underwriting risks. Protection
What Will it Cover?
Other than the building and your business property, it may also cover:
- Temporary premises:
This may include relocation costs and rental fees
- Staff salaries
- Telephone charges
- Other insurance costs
- Business travel expenses
- Government tax expenses
- Contract default costs due to inability to deliver on time
- Labor costs for semi-finished products
- Order equipment for emergency shipping
- Additional costs: Includes costs that exceed the fixed costs required to help restore production operations prior to loss
Jordan and Jordan can help manage your
challenges with solutions such as:
The range of exposures that vary with every industry and individual business. The coverage to protect these exposures
- Coverage Review-identify uninsured loss exposures like management liability, environmental coverage, miscellaneous professional liability, directors and officers liability.
- Portfolio allocations -Premium allocation spreadsheets track premiums by location, by entity and by insurance coverage.
- Benchmarking benchmark rate, coverage and deductible to measure your program against similar real estate portfolios
- Contractual risk transfer -review insurance provisions of leases, construction contracts and loan documents, Insurance requirements that are clear and unambiguous minimize litigation. regarding coverage intent after a loss occurs.
- Property Risk Consulting and Placement Expertise
- Product Specialization- Offices, retail, warehouses habitational and vacant property
- Cyber Risk -network security and privacy risk
- Safety and Security-Terrorism/Active Shooter and Malicious Threats. We identify potential problems and recommend solutions that promote a safe environment for anyone who may be in a building: visitors, customers, residents or employees. Personal safety and security exposures abound and creating the safest location possible is of critical importance from both a personal and corporate liability standpoint