Commercial Policy

Types of Policies

All businesses need property/casualty insurance coverage. The “property” component protects against damage to or loss of the business’s property. The “casualty” or liability component provides protection against legal liability for damages caused to other people or their property. A wide variety of lines of business fall into these broad catagories.

Package Policies

Commercial insurers sell coverages separately and/or offer policies that combine protection from most major property and liability risks in one package. Package policies are created for businesses that generally face the same kind and degree of risk.

Commercial Multiple Peril Policies

Larger companies might purchase a commercial package policy or customize their policies to meet the special risks they face. Commercial multiple peril policies , ofter purchased by corporations, bundle property, boiler and machinery, crime, and general liability coverage together.

two commercial workers fixing an air conditioner

RSS Insurance Journal

  • Arch Capital Estimates Q1 Catastrophe Losses Could Reach $190 Million April 19, 2021
    Arch Capital Group Ltd. estimated a range of pretax catastrophe losses of $180 million to $190 million for the first quarter across its property casualty insurance and reinsurance segments. A major reason for the claims during Q1 will be January’s …
  • Helix Underwriting to Write Excess Casualty, Forming Agency Agreement with Watford April 19, 2021
    Helix Underwriting Partners Ltd., the Bermuda-based managing general agency, has expanded its agency platform into the excess casualty insurance segment. The move will see Tim Hadler join as chief underwriting officer to lead the new program, which has received regulatory …
  • Two Die in Tesla Crash in Texas April 19, 2021
    Two men died after a Tesla vehicle, which was believed to be operating without anyone in the driver’s seat, crashed into a tree on Saturday night north of Houston, authorities said. “There was no one in the driver’s seat,” Sgt. …
  • FDA Halts Manufacturing at Plant Where Vaccines Were Ruined April 19, 2021
    The U.S. Food and Drug Administration has asked Emergent BioSolutions Inc. to stop manufacturing new drug material at its plant in Baltimore, which was responsible for millions of ruined COVID-19 vaccine doses earlier this month. The U.S government had put …