If you have active business insurance policy, do your best to keep it, and have no cancellation, especially for non-payment’ otherwise, your policy underwriter can say that future “rewrites” after midterm cancellation may be problematic. This means that another rewrite may need to go through brokerage where rates on your class most likely will be higher and forms more restrictive,… Read More »Hard Market – Should you wait for it?
Below is a small sample of some new Ocean Cargo accounts. Goods Shipped State Premium Auto Parts FL $5,000 Clothing UT $2,324 Computers & Hardware CA $2,686 Furniture NC $2,033 Machinery Parts IA $2,239 Office Equipment PA $1,968 Plumbing Supplies NC $3,383 Promotional Items IL $2,100
A SC bill designed to curb thieves from ripping copper from air-conditioning units and farm irrigation systems is heading to Gov. Nikki Haley. The Senate voted 39-1 this week to agree to changes made in the House. The amended bill bans cash sales for copper and requires both the seller and recycler to obtain permits from local law enforcement. It… Read More »Copper Theft Bill in South Carolina
As many as 50 storefronts were damaged or destroyed in rioting and looting in Vancouver Wednesday night following the Vancouver Canucks Stanley Cup Finals loss, though not all of the riot damage will be covered by insurance. While Business Owners Policy would cover for things like theft and vandalism, and fire related losses, storefront windows are usually covered under a… Read More »Riot Damage Coverage – What you should know
According to the GMAC Insurance Company, 4 out of 10 young adult drivers, ages 18-24, would fail the driver’s test if they took it today. While the youngest group proved to be the least knowledgeable when it comes to safe driving, 32% of 25-34 year old drivers would also fail the driver’s test if they took it today. Almost 1… Read More »Drivers Test Proves Difficult for Younger Adult Drivers
New York City Police Pay More in Liability Claims Than Hospitals. Meaning that NY doctors are better prepared to fight on the legal scene for their malpractice, and not police. My friend recently become an expert witness – registered nurse that can testify before the court clearing the questionable claims. And all only with 2 years of nursing school, 2… Read More »Interesting Industry News
ADP (Automatic Data Processing Inc) the world’s largest payroll processor, todayt said it is investigating a data breach affecting one of its corporate clients. ADP said it is “taking measures to address the impact” of the breach, but it did not provide specifics. The breach occurred at a benefits administration unit ADP recently bought and was limited to a single… Read More »ADP – Automatic Data Problem?
Employment in the field of third party administrators and claims adjusting is set to grow 5.7 percent annually between now and 2016, according to industry research firm IBISWorld. Insurance carriers and brokers are increasingly outsourcing risk management functions. In turn, third-party administrators and insurance claim firms will have to bolster personnel. These are not new jobs. These are transplant jobs… Read More »Same Jobs, Lower Salaries
Markel Corp. has launched a new umbrella product for Allied Healthcare accounts. This product will serve as a lead umbrella policy over eligible Allied Healthcare lines such as hospitals, medical labs, pharmacies, surgery centers and clinical trials up to $10 million in capacity. Coverage is written on a surplus lines basis through Evanston Insurance Co. (Essex Insurance Co. in Illinois… Read More »Medical Umbrella