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JMI Reports

Insurance Services, United States, Ohio, Cleveland

Leading provider of insurance services specializing in property inspection, risk assessment, and data analysis to support underwriting decisions.

About JMI Reports

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Basics

Type
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Founded
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Total Employees
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Employees on Linkedin
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Employees on OWCareers
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Main Office
United States of America, Ohio state
Official Website
http://www.jmireports.com
Location Address Official Phone Email
United States of America, Ohio state JMI Reports Headquarters, 123 Main Street, Cleveland, OH 44101 **** ****
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FAQs – JMI Reports

Can I bundle business liability insurance with other coverages?

Yes, many insurers offer Business Owner’s Policies (BOPs) that bundle general liability insurance with property insurance and business interruption coverage. This bundled option is often more affordable and provides comprehensive protection. Businesses can also add professional liability, cyber liability, or workers’ compensation insurance as needed.


How do reserves affect insurance pricing?

Insurers factor reserves into premium calculations. Higher reserve requirements may lead to increased premiums, ensuring the company remains financially stable. Conversely, lower reserve estimates can result in competitive pricing but may increase financial risk.


How is co-payment different from coinsurance?

Co-payment is a fixed amount per service, whereas coinsurance is a percentage of the total cost the insured must pay after meeting the deductible.


Are there any tax implications related to insurance for gig workers?

Yes, gig workers can deduct certain insurance premiums, such as health insurance or liability insurance, from their taxable income. They should consult with a tax professional for specific guidance.


What role does reinsurance play in risk management?

Reinsurance allows insurers to transfer portions of their risk to other insurers, reducing financial exposure, improving solvency, and enabling them to underwrite larger policies with confidence.


What does business interruption insurance cover?

It covers lost revenue, rent or lease payments, employee wages, taxes, and loan payments required to keep the business afloat.


Is there a difference between an elimination period and a waiting period?

Yes, an elimination period typically refers to the time a policyholder must wait before receiving benefits after filing a claim, common in disability and long-term care insurance. A waiting period, on the other hand, is the initial period after purchasing a policy during which no claims are covered.


Can an insurance policy be invalid without insurable interest?

Yes, if there is no insurable interest at the time of the policy purchase or claim, the policy is typically invalid. Insurance contracts require the policyholder to demonstrate a genuine financial interest in the insured entity.


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