VBI Launches Expanded Insurance Coverage Efforts Prompted by Vague Industry Standards
The Federal Emergency Management Agency reports more than 28,000 vacant building fires occur each year resulting in an estimated $900 million in property loss in the residential sector alone. In addition to mounting property losses, owners of these structures also find themselves responsible for the extensive costs of more than 40 deaths and over 200 injuries annually. Although owners typically hold insurance policies on their properties, most general policy providers tend to fall short on their coverage of structures considered...
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