Builtwell Insurance Blog
The Importance of Insurance to Value for Commercial Property Coverage
When purchasing or renewing your commercial property insurance, it’s vital for businesses to ensure such coverage includes correct property valuations. Doing so can make all the difference in providing sufficient protection and preventing coinsurance penalties amid covered property losses. That is where conducting accurate insurance-to-value (ITV) calculations comes into play. Generally speaking, ITV refers to…
Builtwell Insurance Active Shooter Incident Preparedness and Response Strategies
In recent years, active shooter incidents have become a growing concern across the United States. Unfortunately, here at Builtwell Insurance, we are keenly aware, because as recently as June 5th here in our own state of Tennessee, investigators are still working the case of a shooting at a Chattanooga night club. Also called a mass…
What’s In A Name?
Well-built communities start with well-built insurance companies. This happens by being a local economic engine for the communities we serve. If you have visited a First Volunteer office recently, you have probably already seen our new name, but if not, we are pleased to introduce you to: This new name is just part of the…
Cyber Liability Insurance – Ransomware Protection What You Need To Know
The cyber insurance market is at a critical juncture for both insurance carriers and policyholders. While the last few years have seen increased competition among cyber insurance carriers, higher capacity and expanded coverage terms, both 2020 and 2021 saw a rapidly hardening cyber insurance market, globally and here in Eastern Tennessee. Across industry lines, cyberattacks—namely,…
The Rising Cost of Commercial Auto Insurance
Over the past decade, the commercial auto space has been challenging and largely unprofitable for insurance carriers. According to a recent report from AM Best, commercial auto underwriters saw more than $22 billion in underwriting losses between 2011 and 2020. This is despite underwriters increasing commercial auto premium pricing for 41 consecutive quarters, dating back…
Don’t Get Caught Short … Stay Ahead of the Curve!
For this month’s blog, we here at Builtwell Insurance of Eastern Tennessee would like to bring you an update on two basic, but important segments of insurance; commercial property and general liability. There are some important trends in each that when analyzed, could save you money, increase your coverage and protection, or both. Regardless of…
Trends to Watch in 2022
At Builtwell Insurance, we often examine how outside influences and trends affect the insurance marketplace here in Tennessee and around the world. Businesses should follow suit to determine what factors impact their insurance coverage. For 2022, there are a number of sweeping market developments to consider, so we have outlined a few here for our…
Managing Projected Construction Worker Shortages in Tennessee
Happy New Year from all of us at Builtwell Insurance of Eastern Tennessee. And not to be a complete Debbie Downer, or rain on the bright outlook for 2022, but we always believe in keeping it real here at Builtwell Insurance, so we need to share an item of some concern with our readers. A…
Another Year Behind Us … And A Few Business Tips For December
As 2021 comes to a close, we here at Builtwell Insurance of Eastern Tennessee have a few pieces of business advice we’d like to share. In this months’ blog we’ll look at: ● Continuing cyber threats to small business ● Holiday Party Liability Cyber Threats to Small Businesses Small businesses here in Tennessee are becoming…
Employers, What You Should Know About Covid-19 Vaccines
Introduction: The COVID-19 pandemic has been wreaking havoc in the United States for over a year and a half at this point. Now that vaccines are finally here. There is a lot of information on the internet regarding the vaccines, some of which may be misleading. It’s important for employers to learn the facts about…