Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to guarantee another party compensation in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.
Title insurance is a form of indemnity insurance predominantly found in the United States and Canada which insures against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage loans. Unlike some land registration systems in countries outside the United States, US states' recorders of deeds generally do not guarantee indefeasible title to those recorded titles. Title insurance will defend against a lawsuit attacking the title or reimburse the insured for the actual monetary loss incurred up to the dollar amount of insurance provided by the policy.
Vehicle insurance is insurance for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage or bodily injury resulting from traffic collisions and against liability that could also arise from incidents in a vehicle. Vehicle insurance may additionally offer financial protection against theft of the vehicle, and against damage to the vehicle sustained from events other than traffic collisions, such as keying, weather or natural disasters, and damage sustained by colliding with stationary objects. The specific terms of vehicle insurance vary with legal regulations in each region.
Home insurance, also commonly called homeowner's insurance, is a type of property insurance that covers a private residence. It is an insurance policy that combines various personal insurance protections, which can include losses occurring to one's home, its contents, loss of use, or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home or at the hands of the homeowner within the policy territory.
Property insurance provides protection against most risks to property, such as fire, theft and some weather damage. This includes specialized forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance, or boiler insurance. Property is insured in two main ways—open perils and named perils.
A tie, strap, tie rod, eyebar, guy-wire, suspension cables, or wire ropes, are examples of linear structural components designed to resist tension. It is the opposite of a strut or column, which is designed to resist compression. Ties may be made of any tension resisting material.
The National Flood Insurance Program (NFIP) is a program created by the Congress of the United States in 1968 through the National Flood Insurance Act of 1968. The NFIP has two purposes: to share the risk of flood losses through flood insurance and to reduce flood damages by restricting floodplain development. The program enables property owners in participating communities to purchase insurance protection, administered by the government, against losses from flooding, and requires flood insurance for all loans or lines of credit that are secured by existing buildings, manufactured homes, or buildings under construction, that are located in the Special Flood Hazard Area in a community that participates in the NFIP. U.S. Congress limits the availability of National Flood Insurance to communities that adopt adequate land use and control measures with effective enforcement provisions to reduce flood damages by restricting development in areas exposed to flooding.
Cyclone mitigation encompasses the actions and planning taken before a tropical cyclone strikes to mitigate damage and injury from the storm. Knowledge of tropical cyclone impacts on an area help plan for future possibilities. Preparedness may involve preparations made by individuals as well as centralized efforts by governments or other organizations. Tracking storms during the tropical cyclone season helps individuals know current threats. Regional Specialized Meteorological Centers and Tropical Cyclone Warning Centers provide current information and forecasts to help individuals make the best decision possible.
Designated as an American National Standard, the Uniform Plumbing Code (UPC) is a model code developed by the International Association of Plumbing and Mechanical Officials (IAPMO) to govern the installation and inspection of plumbing systems as a means of promoting the public's health, safety and welfare.
FM Global is an American mutual insurance company based in Johnston, Rhode Island, United States, with offices worldwide, that specializes in loss prevention services primarily to large corporations throughout the world in the Highly Protected Risk (HPR) property insurance market sector. "FM Global" is the communicative name of the company, whereas the legal name is "Factory Mutual Insurance Company". FM Global has been named the "Best Property Insurer in the World” by Euromoney Magazine.
A home inspection is a limited, non-invasive examination of the condition of a home, often in connection with the sale of that home. Home inspections are usually conducted by a home inspector who has the training and certifications to perform such inspections. The inspector prepares and delivers to the client a written report of findings. The client then uses the knowledge gained to make informed decisions about their pending real estate purchase. The home inspector describes the condition of the home at the time of inspection but does not guarantee future condition, efficiency, or life expectancy of systems or components.
An asphalt shingle is a type of wall or roof shingle that uses asphalt for waterproofing. It is one of the most widely used roofing covers in North America because it has a relatively inexpensive up-front cost and is fairly simple to install.
Building officials of developed countries are generally the jurisdictional administrator of building and construction codes, engineering calculation supervision, permits, facilities management, and accepted construction procedures.
A building control body is an organisation authorised to control building work that is subject to the Building Regulations in England and Wales (similar systems are provided in Northern Ireland, and in Scotland where the term 'building standards' is used. These regulations or standards are also known as building codes in other parts of the world.
An owner controlled insurance program (OCIP) is an insurance policy held by a property owner during the construction or renovation of a property, which is typically designed to cover virtually all liability and loss arising from the construction project.
Insurance in the United States refers to the market for risk in the United States, the world's largest insurance market by premium volume. According to Swiss Re, of the $6.287 trillion of global direct premiums written worldwide in 2020, $2.530 trillion (40.3%) were written in the United States.
The Department of Business and Professional Regulation (DBPR) is the agency charged with licensing and regulating more than 1.6 million businesses and professionals in the State of Florida, such as alcohol, beverage & tobacco, barbers/cosmetologists, condominiums, spas, hotels and restaurants, real estate agents and appraisers, and veterinarians, among many other industries. On the Department's website, consumers and licensees can verify licenses, file a complaint against licensed or unlicensed individuals, apply for or renew licenses, search food and lodging inspections, search for or request public records and read about recent department initiatives.
Decennial liability insurance or "Inherent Defect Insurance" is insurance that is taken out to cover costs associated with the potential collapse of the building after completion. The name derives from the fact that it covers the 10 year period after completion of the project. It is compulsory to insure in a few countries such as France, and Egypt. In other countries like Qatar there is the form of strict liability arising from the French Civil Code which does not require any proof of fault, but there is no compulsory requirement to insure. The cost of the insurance can significantly increase construction costs and may be up to 1.5% of structural value.
Citizens Property Insurance Corporation (Citizens) was created in 2002 from the merger of two other entities to provide both windstorm coverage and general property insurance for home-owners who could not obtain insurance elsewhere. It was established by the Florida Legislature in Chapter 627.351(6) Florida Statutes as a not-for-profit insurer of last resort, headquartered in Tallahassee, Florida, and quickly became the largest insurer in the state. The company has no connection to Louisiana Citizens Property Insurance Corporation, the equivalent entity in Louisiana, or several similarly named "for-profit" subsidiaries in the Hanover Insurance Group.
Tornadoes, cyclones, and other storms with strong winds damage or destroy many buildings. However, with proper design and construction, the damage to buildings by these forces can be greatly reduced. A variety of methods can help a building survive strong winds and storm surge.
