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What is Specialty Insurance?Specialty insurance is designed to meet the specific needs of firms requiring specialized coverage beyond what standard commercial insurance provides. It is particularly well-suited for businesses dealing with high-risk assets or scenarios not covered by regular insurance policies. Specialty insurance is commonly utilized by businesses involved in high-risk activities like skydiving or construction. This type of insurance is essential for safeguarding investments in items such as firearms and antiques. Many insurance companies offer customized coverage for specific industries, such as healthcare, environmental, real estate, and energy, adapting their underwriting to address the unique risks involved.
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