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Commercial Lines
Blanket Coverage: Understanding the Basics
By: Tiffanie Demasters | Commercial Insurance & Risk Mangement Advisor
Popular on Insuranceopedia 
Risk Retention
Risk retention is an individual or organization’s decision to take responsibility for a particular risk it faces, as opposed to transferring the risk over to an insurance company by purchasing insurance. That means the individual or organization has chosen to pay for any losses out of pocket...
Principle of Indemnity
To indemnify someone means to “make someone whole.” The principle of indemnity is one of the fundamental principles of insurance because it is the part of an insurance contract that ensures the insured has the right to compensation and sets limits on how much they can get. The principle...
Agency by Estoppel
In legal terms, an “agent” is someone authorized to act on behalf of another. An agency relationship can be between individuals, individuals and corporations, or between corporations. An agent will have the power to act on behalf of another entity and will be able to make decisions that...
The Key Elements of an Insurance Contract
Understanding the basic terms of an insurance contract will help you make an informed choice when buying a policy.
By: Mark Cussen | CFP, CMFC
A Look at Uninsurable Risk
Uninsurable risk refers to those things insurance companies won't cover. Knowing what is uninsurable will help you plan for the future.
Travel Insurance: Do I Really Have To?
Don't forego travel insurance for international trips unless the risks are already covered by your existing insurance policies or you can easily absorb the costs.
By: Kaleigh Cox | Freelance Copywriter
How does a business owners policy (BOP) differ from general liability insurance?
The difference between a Commercial General Liability (CGL) policy and a Business Owners Policy (BOP) is that, while the former only covers liability losses, the latter covers both liability and property losses.A CGL policy provides coverage for bodily injury, property damage, personal and...
Is the date of inception of the insurance policy different than the effective date of the policy?
The date of inception and the effective date of the policy are terms that generally refer to the same thing. They refer to the date at which coverage under the terms described on the insurance policy begins. It signals the start of the contract and, from then until the expiry date, both parties are...
Can I file a business insurance claim for a power outage?
This is a tricky one, since commercial insurance policies vary widely from insurer to insurer with wildly differing terms. Moreover, the cause of the power outage also plays a factor in whether or not your business interruption insurance will cover you. Let’s start by going over business...
