Monthly Archives September 2014

The Parameters of Flood Insurance

Wading Through Mud, Rising Lakes and the 45-Days Rule April 1 5, 201 3, By Christine Barlow, PropertyCasualty360.com Spring thaws take place in late February through early April; tornado season began on April 1st; and hurricane and wildfire season both commence on June 1st. That makes late spring and early summer “disaster season,” for lack of a better term. Tornados and wildfires, however, do not cause the coverage issues that spring floods and hurricanes do. With water, flood becomes the issue. No matter how many advertisements FEMA runs or how much advice agents provide, there are always people running uninsured because they opted out of
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Categories: Newsletters.

California Governor Signs Bill

Earthquake Insurance Information Bill Gov. Jerry Brown has signed Assembly Bill 2064, a bill aimed at changing the way Californians learn about earthquake insurance for their homes. Under California law, insurers that sell residential property insurance also must offer earthquake coverage to their policyholders. The current notice is the only required offer of earthquake insurance that policyholders ever get and hasn’t changed for 30 years. AB 2064, authored by Assemblyman Ken Cooley, D-Rancho Cordova, makes updates and improvements to the wording and contents of the mandatory offer of earthquake insurance. The bill also will require insurance companies that offer earthquake
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Categories: Newsletters.

Copper Theft on the Rise

Copper Theft on the Rise Protect your property from this dangerous crime. Your rating:Select ratingGive it 1/5Give it 2/5Give it 3/5Give it 4/5Give it 5/5 It’s one of the fastest growing crimes in the country, and it’s not what you might expect. When your air conditioning unit is stolen, it’s not for the unit, but for its copper coils and pipes that thieves can sell to recycling companies and scrap yards. According to statistics from the National Insurance Crime Bureau, which tracks incidents of copper, aluminum, nickel, stainless steel and scrap iron theft, 25,083 claims were filed from 2009 to
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Categories: Newsletters.

Storage Facility Know-How

Storage Facility Know-How What to ask and confirm before storing your possessions. Your rating:Select ratingGive it 1/5Give it 2/5Give it 3/5Give it 4/5Give it 5/5 Give it 1/5 Give it 2/5 Give it 3/5 Give it 4/5 Give it 5/5 Click a star to add your rating, with 5 stars being highest and 1 star being lowest. Total self-storage space in the U.S. is approximately 2.3 billion square feet, representing more than 78 square miles of space—or three times the size of Manhattan. That’s according to the Self Storage Association (SSA), the official trade organization of the self-storage industry. At some
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Categories: Newsletters.

Drivers in California Must Give Bikes 3-Foot Buffer September 17, 2014 -Insurance Journal Californians will now need to take extra care to steer clear of cyclists. Under statewide regulations taking effect Tuesday, drivers must give bikes a buffer zone of at least 3 feet while passing. A word from our sponsor: Catlin US offers specialty insurance and reinsurance products to our US and Latin American client base. Both our underwriters and claims staff have extensive knowledge and experience in their target markets and focus on delivering customized and innovative solutions with a high level of service. Cited violators will face a
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Categories: Newsletters.

Demand for Liability Insurance to Rise Again:

View this article online: http://www.insurancejournal.com/news/national/2014/09/15/340428.htm Demand for Liability Insurance to Rise Again: Swiss Re Claims severity and demand for liability insurance will increase as economic growth accelerates and because of technological, social and regulatory changes, according to a new report from Swiss Re. Cyber risk, hydrofracking and autonomous cars will likely be among the drivers of liability claims in years ahead. Liability claims have been below trend in the weak economic growth environment of recent years, boosting insurers’ profitability despite declining prices. But their capital strength and underwriting expertise are competitive advantages for casualty insurers, says the insurer’s latest sigma study, “Liability claims
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Categories: Newsletters.

OPEN THE UMBRELLA

OPEN THE UMBRELLA Don’t let your clients leave home—or stay home—without this vital protection By Elisabeth Boone, CPCU On a rainy day, people often leave the umbrella behind and just make a mad dash for the car, train, house, office, or store. No one ever melted in the rain, and why bother with an umbrella that you’re probably going to lose anyway? That logic works fine when all that’s at risk is a wet head. When an individual’s or family’s assets, lifestyle, and goals are on the line, however, the risks of going without an umbrella become markedly less tolerable. In
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Categories: Newsletters.