Cyber insurance has come a long way since the first coverages were added to other policy forms in the 1990s. Traditionally, cyber coverages were only considered necessary in the technology industry — or for those providing technology-related professional services. In the digital age, the growth of cyber risk exposures across all industries has led to [...]
Storms, floods and hurricanes are common summer weather events that pose a serious threat to your Elevanta franchise business. Commercial damage alone totals about $9 billion a year. The risks are heightened if your business is in an area prone to severe storms, vulnerable to flash floods or located along the coast. Weather risks are [...]
Exposure to even a small amount of water can quickly result in damage to your franchise’s property. For insurers, water damage is one of the most common types of property claims, initiating somewhere between 15% and 50% of commercial property loss claims and resulting in bills from $10,000 to more than $1 million, depending on [...]
Originally published July 14, 2020. Last updated July 30, 2024. Have a question about your insurance? You’re not alone. Choosing the right insurance for your business is one of the most important decisions you’ll make for it. Business coverage options are generally more complex than many non-business coverages, which can add to the confusion if [...]
Originally published June 29, 2021. Last updated June 14, 2024. Restaurant customers often order a combo meal, since it has everything most people need—entree, side and drink. Packaging a burger, fries and a soda into a combo meal makes a lot of sense, and it's similar to how a Business Owners Policy (BOP) works in [...]
Business insurance may seem cut and dry, so why the variance in rates from provider to provider? There are many factors that contribute to insurance rates, including coverage and limit options, claim frequency and more. Factors that Cause Business Insurance Rates to Vary Insurance policies and their rates vary from company to company. While you [...]
The insurance market is saturated with partners looking to provide workers’ compensation, property, general liability, employment practices liability and several more types of insurance. With so many options available, it can be overwhelming to find a trustworthy, dedicated insurance partner that meets your franchise’s needs affordably. Read on to learn how Lockton Affinity worked directly [...]
Understanding the inner workings of how an insurance policy is written and managed can be helpful whether you're shopping for new insurance or already have coverage in place. In this blog, we'll walk you through the process your Lockton Affinity policy goes through to give you an idea of what to expect. From the moment [...]
Employment practices liability insurance protects your business from common claims and lawsuits brought by your employees. The number of lawsuits in the industry is rising and the cost to defend yourself against a claim can be substantial. Now more than ever it’s important to make sure your business is protected. Even though employment practices liability [...]
If it's your first time shopping for insurance for your business, insurance terms can be a real stumbling block. Even for old pros, a fresh perspective on a familiar topic can help you better understand what really matters. Here's a look at 10 common but confusing insurance terms explained in plain English to make your [...]