Why You Need Commercial Property Insurance for Your Business? The business landscape is an ever changing one, and protecting your company’s assets should be high on your list. Whether you’re a small startup or a large corporation, you can’t avoid fire, theft, natural disasters and vandalism causing untold damage to your business. Commercial property insurance is what comes in there. https://firstpolicy.com/why-you-need-commercial-property-insurance-for-your-business/

Embracing Mediation: A Game-Changer for the Insurance Industry In a recent report by The Economic Times, it was revealed that a staggering 27% of the cases pending in consumer courts in 2022 were related to the insurance sector. On one side of the spectrum, insurers find themselves grappling with escalating expenditures and exaggerated claims, while on the opposing end, policyholders are left aggrieved by the protracted non-settlement of claims. https://firstpolicy.com/embracing-mediation-a-game-changer-for-the-insurance-industry/

The Top 12 Reasons Why Small Business Need Insurance Small business enterprises form the foundation stone of any economy. This holds, especially in the case of a developing country like India, where creating employment opportunities is vital. But, most small businesses may need help to flourish, especially in the initial condition, due to tight competition from well-established and large-scale companies. https://firstpolicy.com/the-top-12-reasons-why-small-business-need-insurance/

Property Insurance: Understanding Coverage for Business Owners Safeguarding their business’s physical assets is paramount for business owners to ensure the continuity of business and long-term success. One such business asset is property that needs to be protected against all perils. Whether you own an office building, factory, warehouse, godown, or any other commercial property, having insurance coverage can offer financial protection in case of unexpected losses. https://firstpolicy.com/property-insurance-understanding-coverage-for-business-owners/

Three Key Requirements for Cyber Insurance Cyber is an ever evolving and exciting field of insurance. The cyber insurance product initially came into existence as an indemnity product, passive in nature, paying out losses after they happened like other insurances. Then there was a realization that the insurer cannot be a passive player at all times and has to be involved in the management of the cyber claim by providing incident response services. https://firstpolicy.com/three-key-requirements-for-cyber-insurance/

The Role Of Liability Insurance In Risk Mitigation Strategies Liability insurance plays a vital role­ in managing risks for businesses of all sizes. In today’s unpre­dictable world, where unfore­seen circumstances can significantly impact a company’s financial well-being, liability insurance acts as a protective­ shield. This article delve­s into the multifaceted nature of liability insurance within risk mitigation strategies. https://firstpolicy.com/the-role-of-liability-insurance-in-risk-mitigation-strategies/

Loss of Profits Insurance: Port Blockage Arising out of the Baltimore Bridge Collapse due to the impact by vessel MV Dali, there is complete shutdown of the port of Baltimore, one of the busiest ports in the United States. All inbound and outbound traffic of the port remains suspended, adversely impacting supply chains. The collapsed bridge needs to be removed and the shipping channel cleared for shipping to resume. This is likely to take time. https://firstpolicy.com/loss-of-profits-insurance-port-blockage/

The Importance of Professional Indemnity Policy for Small IT Companies In today’s digital age, small IT companies play a crucial role in driving innovation and supporting businesses across various industries. However, with great responsibility comes the potential for significant risk. As a small IT company, it’s essential to protect your business against potential legal claims and financial losses. One of the most effective ways to achieve this is by securing a Professional Indemnity (PI) policy. https://firstpolicy.com/the-importance-of-professional-indemnity-policy-for-small-it-companies/