An experienced independent insurance agent can help you assess which of the many types of commercial coverage are appropriate for your business, and can look for all available discounts on your behalf. Many insurance providers now exclude claims arising from sources they regard as particularly hazardous, such as terrorism, asbestos, gradual pollution, mould, e-commerce transactions and, potentially, financial loss where there has been no ‘injury or damage’ as defined in the policy.
The extraordinary number and severity of catastrophes, a downturn in the investment market, sharply rising home and repair costs and the emergence of mold claims are all contributing to the higher insurance rates today, according to an insurance industry representative.
If not, and the value of your device is minimal, it cannot be in your best interest, a policy which include the purchase specifically for your business equipment and fixtures, as you can pay more at the end of the insurance premiums than what your business equipment and fixtures are still worth it.
Professional Indemnity insurance for Information Technology firms provide protection against compensation claims due to acts of professional negligence, breach of duty, errors or omissions resulting into client data theft, non-performance of professional duties and more.
It is to meet this situation that loss of profits insurance have been devised and subject to a suitable type of policy and an adequate sum insured, it affords an insured complete protection against the reduction or cessation of profits following a fire and place him in the same position as though the damage had not occurred.