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Business Personal Property of Others: Insuring It Properly Involves Many Considerations
If one ponders the types of businesses involved in bailments, such as for leasing, safekeeping, or for performing some kind of cleaning, repairing or servicing of personal property, it is an infinite number. With such possession comes risks and responsibilities for which the right insurance protection is a must.
The many factors to be considered when insuring the business personal property of others are discussed in this enlightening article by insurance expert, author and educator Don Malecki, CPCU. As part of his analysis, he identifies the most common problems or challenges to be overcome in effecting this protection successfully.
If your responsibilities include financial, insurance or risk management, this is relevant reading for you.