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March 2012

Risk Transfer: Managing 3rd Party Relationships

Introduction: Case Scenarios – A painter’s scaffold collapses resulting in severe injury to the painter and a pedestrian. The painter had no insurance. The building owner is held liable for all losses. – A cabinet installer puts a long screw into a wall. It punctures a water pipe causing water damage. The installer’s insurance policy was not renewed. The homeowner’s insurance company sues and recovers the damages from the cabinet retailer who recommended the installer. – A small motor manufacturer, to get the business of a big new customer, agrees to sign a contract which the customer requires of all… Read More »Risk Transfer: Managing 3rd Party Relationships

Renters Insurance Quotes

Protect your belongings for as little as 57 cents a day Chances are your landlord’s insurance won’t cover your personal property if there’s a fire or break-in. By getting renters insurance for as little as $0.57/day, you can protect your belongings and help make sure you can replace them if something happens. When you get renters insurance through Paperless Insurance Services, you’ll be able to: ► Save time — you’ll receive instant multiple quotes within minutes. ► Find affordable rates — choose from several options (coverage and carriers) ► Buy easily — purchase online or over the phone. ► Save even… Read More »Renters Insurance Quotes

Purchase Order is Not Formal Contract

How many times, we as insurance agents, process requests to add additional insured to the policy of our client? At least several times a day. Some insurance agencies have dedicated staff that is primarily working on underwriting those requests. It is not complicated, but could a time consuming function, specifically, when such request must be processed by the insurance carrier, to properly endorse it on the policy. In the same time, many insurance companies have a policy form, that describes who is an insured, and extends the coverage automatically when it is required by a formal contract between insured and another party. Sometimes,… Read More »Purchase Order is Not Formal Contract

Electric Highway On Its Way

The stretch of 160 miles of Interstate 5 served by eight stations marks the next big step in developing an infrastructure that until now has been limited primarily to chargers in homes and workplaces. The stations go from the California border north to the Oregon city of Cottage Grove and are located at gas stations, restaurants and motels just off the nation’s second-busiest interstate. One is at an inn that was once a stage coach stop. Spaced about every 25 miles, the stations allow a Nissan Leaf with a range of about 70 miles to miss one and still make it to… Read More »Electric Highway On Its Way

Texting While Driving Now Banned in Idaho

At least 35 states and Washington, D.C., ban text messaging by drivers, but efforts to toughen the law in Idaho has struggled to gain traction in recent years.  After several tries and frustrating setbacks, Idaho is set to join the majority of states that have toughened laws against sending text messages while driving. House lawmakers voted 53-17 Tuesday to bar motorists from using smartphones and other hand-held devices to review, prepare or send written communications. Rep. Julie Ellsworth, R-Boise, pushed the plan, saying a strong message from state leaders is needed to curb the deadly and growing habit.

Our March Success List

NEW YORK – Restaurant Supply Store – Metal Goods Manufacturing for Restaurants/Bars/Hotels – Very large slip and fall loss 2 yrs prior – $20,000 Premium – NY – Household goods mover MTC account – Trucker’s GL also separately placed – $800 Premium – NY CALIFORNIA – Large Pallet MFG for $13K in premium in CA. – Large Used Car Dealership in CA for $35K. – Large ($50 Million) TIV Vacant Building – 25 Rental Dwellings to “flip” – CA – $10,500 Premium – Door and Window MFG – CA – $4,000 Premium – Excess added for $750 to Premium FLORIDA,… Read More »Our March Success List

Contractor Fraud Bills Passed in IN, NE, and SD

The Indiana and Nebraska legislatures recently passed much needed legislation that could help protect homeowners from contractor fraud and abuse, according to the Property Casualty Insurers Association of America (PCI). Additionally, the South Dakota legislature sent a similar bill to its governor in late February. Contractor fraud legislation also has been introduced in five other states — Arizona, Colorado, Iowa, Kentucky and Tennessee, PCI said. The bills passed in Indiana (HB 1237), Nebraska (LB 963) and South Dakota (SB 145) provide for notices and contract termination rights and prohibit rebating or other compensation to induce consumers to enter into contracts.… Read More »Contractor Fraud Bills Passed in IN, NE, and SD

Alaska to Ban Cellphones Use While Driving

A divided House committee has advanced a bill that would prohibit teens from talking on the phone while driving. Anchorage Democratic Rep. Berta Gardner’s HB128 would allow police to give citations only after someone has been pulled over for another violation. Keller said his vote was mainly because he believes the bill would help future prohibitions of cellphone use while driving, which has been a point of contention among legislators this year. Lynn said he opposed the bill because he feels that teens need to be treated like adults.

Another Reason to Move to Hawaii

Hawaii is adding more money to an electric vehicle rebate program and extending the deadline for the rebates. State officials said Tuesday that because of an increase in demand for electrical vehicles, $350,000 is being added for rebates on new electric or plug-in hybrid electric vehicles and chargers. The deadline for the rebates is being extended from March 31 to Nov. 1.