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Deciding how much business income and extra expense coverage you need doesn’t have to be challenging. As long as you have the right tools—like this Business Income Calculator—it’s easy. Let’s get started. What You Need1. Your income statement(s) from the last one-year period.2. Your business plans in the event of a disaster. For example:Do you plan to continue operating at full capacity (100%) or in a more limited way (20% or 50%)?Do you plan to continue paying all employees or only key individuals?Do you plan to continue operating at a new temporary location while you rebuild your business property?Do you… Read More »Business Income Calculator by Safeco Insurance Company

For some of you it’s important for you to keep a home inventory, but the process can be time-consuming and difficult. Thankfully, the newest version of the Insurance Information Institute’s Know Your Stuff tool, available via free download, can make doing a home inventory a breeze.Know Your Stuff helps customers enter items by room and upload photos or scanned receipts. Once the information is in the system, items can be sorted by price, date of purchase or type (silverware, major appliances, etc.). Customers can even customize their own categories.Once completed or updated, the Know Your Stuff report also can be… Read More »Free Home-Inventory Tool

Most people would prefer not to be a passenger in an auto accident. But fraudsters who engage in “jumping in” go out of their way to get involved in an accident—whether they were there or not.In “jumping in” fraud, one or more individuals falsely claim to have been a passenger in a vehicle that has been involved in a collision with the goal of collecting an insurance settlement. Crash of Opportunity Jumping in is often a crime of opportunity, where a legitimate accident is seen as a chance to make money, according to Odie Waters, Hartford Special Investigations Manager.The fraudster,… Read More »How You Can Spot ‘Jumping In’ Auto Fraud

The Woonsocket, Rhode Island Fire Department is warning city residents to be on the look out for phony fire marshals. Officials say one or more people have been falsely representing themselves as a fire marshal.The department says it will only make a scheduled appointment for an inspection with a building owner and that no fees are charged for the installation of smoke detectors.Anyone approached by someone portraying himself or herself as a fire marshal is asked to contact police.

The operator of the tour bus that wrecked in an accident that killed 17 members of a Houston church Aug. 8 was not legally licensed and had no insurance. In addition to the fatalities, 40 people were injured when the bus skidded off the highway near Sherman, Texas. The bus was operated by Iguala BusMex Incorporated of Houston, according to licensing information on the vehicle. Records show that the company has an application pending with the Federal Motor Carrier Safety Administration but has not been approved for operation. The company was ordered to cease interstate operations by FMCSA after a… Read More »No License, No Insurance for Bus in Texas Crash That Killed 17

A.M. Best Co. has commented that the issuer credit rating (ICR) of “a-” of Philadelphia Consolidated Holding Corp. of Bala Cynwyd, PA is unchanged as a result of the recent announcement that Japan’s Tokio Marine Holdings, Inc. has entered into a definitive agreement to acquire Philadelphia Consolidated. Best also said that the financial strength rating (FSR) of ‘A+’ (Superior) and ICRs of “aa-“of Philadelphia Insurance Companies and its members and FSR of ‘A-‘ (Excellent) and ICRs of “a-” of Liberty American Insurance Group and its members are unchanged. Philadelphia Consolidated is the parent holding company of Philadelphia Insurance and Liberty… Read More »Ratings Roundup Philadelphia Consolidated, PURE

The Court of Appeal of California has ruled that a retailer must remove architectural barriers that prohibit disabled individuals from accessing merchandise, or must adopt alternative methods for making its merchandise available to disabled individuals by customer service or other means. According to court documents in Californians for Disability Rights v. Mervyn’s LLC, CDR sued Mervyn’s department stores for maintaining narrow pathways between merchandise display racks that block shoppers with wheelchairs and other mobility aids from reaching the merchandise. The trial court found the 15 percent to 20 percent of Mervyn’s merchandise was unacessible, but conclused that the removal of… Read More »Retailers Must Provide Disabled Access