Lockton’s dedicated international direct and facultative (re)insurance property practice provides best-in-class wholesale and retail placement services to clients based predominantly outside of the US and Canada.

Policies can be tailored to reflect the specific needs of your property and business. Commercial property insurance typically covers:

• Physical damage or loss caused by risks such as fire, flood, theft, vandalism, storm damage and other insured perils.

• Cover for business interruption, machinery breakdown and additional costs of working.

Property insurance is not legally required by federal law in the United States. However, lenders and landlords will usually require it as a condition of financing or tenancy. Many businesses also choose to take out commercial property insurance to protect against the financial impact of damage or loss.

Building insurance covers the physical structure of your commercial premises, including walls, roofs, floors, and permanent fixtures. Contents insurance, on the other hand, protects items inside the building such as furniture, equipment, stock and machinery. Many businesses take out both types of cover to ensure full protection.