Welcome To Ethan’s Blog!

Ethan's Blog

Welcome To Ethan’s Blog! Greetings reader! I am Ethan Kosmin, the EK in EK Insurance. I am a professional commercial insurance broker who gets the privilege to speak to small business owners every day. I have such admiration for small business owners. They risk a lot and put their time, money, pride, experience and so …

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What’s The Purpose of Insurance Exclusions?

What's The Purpose of Insurance Exclusions?

In the insurance industry, exclusions are quite an important factor. An exclusion is a provision within your insurance policy that makes coverage null in the cases of some risks. These exclusions can limit the coverage your insurance provides. So what’s the purpose of insurance exclusions? Usually, insurance policies cover quite a large area. However, insurers …

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What Is Terrorism Insurance?

What Is Terrorism Insurance

The responsible business owner gets insurance for their business and its employees before they’ve hired the first employee to the ranks or signed their first contract. Most business owners will opt for commercial property insurance, which covers most of the risks that you might encounter as a business owner; sometimes this also includes other forms …

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What Companies Rate Insurance Companies?

What Companies Rate Insurance Companies?

When selecting an insurer, one of the most important things to look at is an insurer’s financial ratings. Financial ratings are independent reviews of the company’s finances, based upon several different factors that often vary from one review organization to another. There are four main companies that rate insurance companies in the United States. A.M. …

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Overflow Of Drainage System Not A Separate Peril From Flood Or Surface Water

Overflow Of Drainage System Not A Separate Peril From Flood Or Surface Water

National Fire Insurance Company of Hartford (National Fire) insured Northwest Bedding Co. (Northwest) under an all-risk commercial property policy. It covered Northwest’s buildings and business personal property against “direct physical loss of or damage to Covered Property…caused by or resulting from any Covered Cause Of Loss. The Spokane, ‘ area experienced heavy snowfall during the …

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Damage To Building From Soil Erosion Away From Body Of Water

Damage To Building From Soil Erosion Away From Body Of Water

A manufacturer of ship propellers made claim under flood insurance, obtained under the National Flood Insurance Program (NFIP), for damage to one of its buildings allegedly caused by flood-related soil erosion. The insured asserted that ” . . . floodwaters from heavy northeastern storms spilled over into the insured property, saturated the foundation soils and …

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When Do I Need Business Insurance?

When Do I Need Business Insurance?

When do I need business insurance? That’s a question that many people who are considering opening up a business have. Whether you run a small operation out of your house, you own a small mom-and-pop establishment, or you operate a large organization, you need business insurance. It’s one of the most important things you can …

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Accident Caused By Driver Not Reported To Insurer Not Covered

Accident Caused By Driver Not Reported To Insurer Not Covered

An accident in November 2006 involved two vehicles. Joel Mons drove the vehicle that Galloway Heavy Hauling, Inc. (Galloway) owned. Telemundo Television Studios, LLC (Telemundo) owned the other. After the accident, Telemundo filed a claim with Aequicap Insurance Company (Aequicap), Galloway’s automobile insurer. Aequicap brought an action for declaratory judgment that sought to establish that …

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What Is An Insurance Binder?

What Is An Insurance Binder?

I am often asked. “What is an insurance binder?” The short of it is that an insurance binder is a document that provides temporary evidence of insurance until the underwriting process is complete and the policy can be issued. An insurance binder is not just a nice folder that you use to hold your insurance …

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