Parts of the Midwest have been experiencing record flooding, caused by rains and the melting snow that fell in the winter. 
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Over the past few years, more accidents have been attributed to smartphone use while driving. This, along with the higher cost of repairs, has led to double-digit increases in commercial auto insurance rates.

Distracted driving has led to sustained commercial auto premium increases for businesses of all sizes – from those with a few vehicles and drivers to those with large fleets. However, there are now several new factors that will play a part in ensuring rates continue to climb, at least in the near term.
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​As winter starts subsiding, the harsh elements of the season can do serious damage to roadway surfaces, mostly in the form of potholes.
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A new report highlights the risks to commercial real estate owners from natural catastrophes and climate-related disasters, which are happening with increasing frequency.

The report by Heitman LLC, a global real estate company, in conjunction with the Urban Land Institute, found that the increasing risks from catastrophes are bringing new challenges to commercial property owners in terms of risk mitigation and securing appropriate property coverage, which may become more difficult in the future. 
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Our thoughts go out to everyone during this difficult time of flooding. Flooding dangers do not end when the water begins to recede; in fact, sometimes the work has just begun. This infographic offers some tips to keep you safe. LMC Insurance & Risk Management is here to help and support you every step of the way.

Do you have expensive art in your home: Paintings, sculptures, glass works, textiles, ornamental jewelry, and other items?

If you have art, is it "fine art" - a one-of-a-kind work that may have some historic or artistic significance that required a specific fine skill to create, and is rare and unique?

Fine art differs from collectibles and jewelry, which your policy will typically cover up to a limit. For example, your policy may cover a loss of up to $2,500 for your art, collectibles and antiques.

However, if you're assuming that your homeowner's insurance will cover your fine art, you may be disappointed. Most standard homeowner's policies have a cap, per insurance category, on the amount of personal property coverage provided.
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Companies with global operations may face many political risks not typically covered under their existing insurance policies. Increased demand for protection against international risk exposures has led insurance companies to develop policies such as Political Risk and Credit Insurance. 

Spring is around the corner and, just like you do before winter, it's time to take care of housekeeping items to keep up your home and reduce the chances of problems down the road.
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Parts of your home can be damaged during winter's harsh weather, particularly if you have endured storms and unusual weather.

Thanks to advances in technology and the Internet, more and more people are running home-based businesses, either full-time or part-time.
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What happens if your business suffers property damage or a supply chain disruption and is forced to stop operations either fully or partially? Will your insurance cover the work stoppage or slowdown?  

It’s important to understand how your insurance can protect you from the resulting financial loss. In addition to potential recovery for property damage from your property/casualty policy, you may be able to recover lost revenue from your business interruption coverage. If your operations are disrupted - completely or partially - the language of your policy will determine if, and for how long, your insurance company will cover the loss.
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