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Directors and Officers Policies are on a Rise

More companies with international operations are buying local insurance to cover the risk of lawsuits against their company managers, according to a survey released Tuesday by Towers Watson & Co. Towers Watson surveyed 496 organizations that obtain directors and officers liability insurance. Out of the 53% that said their companies have international operations, 47% said they bought a local policy in a foreign jurisdiction. That compares with only 2% of respondents with international operations that did so in 2008, the last time the survey was conducted. The survey found that as a rule, the larger the company, the more likely… Read More »Directors and Officers Policies are on a Rise

Community Development Financial Institution Investments in California

California Insurance Commissioner Dave Jones is offering insurance companies $4.67 million in tax credits to invest in underserved communities. Under the program, investors place a minimum of $50,000 on deposit with a Community Development Financial Institution (CDFI) for 60 months at zero percent interest. In exchange, the investor receives a 20 percent state tax credit, with an approximately 4.5 percent annual percentage rate of return. In the recent past, CDFIs across the state have made notable investments, including: • A mortgage loan for a nonprofit residential alcohol treatment facility; • Micro-loans of $500 to $5,000 to self-employed business owners; •… Read More »Community Development Financial Institution Investments in California

Please do not vote to eliminate the ADHC benefit for the frail elderly.

Dear friend, We need your help today. ADHC ELIMINATION PROPOSAL – MAKE TELEPHONE CALLS TODAY! The full Senate and Assembly Budget Committees will take up the ADHC elimination proposal Friday, February 18. The agenda is not yet available but we know the hearings will begin at 9:00 AM. There is no public testimony. We need to generate as many telephone calls today as possible to the Budget Committee members and Leadership offices. The call should only be 15-30 seconds so the next person has a chance to call in. Make sure you identify you are a constituent if your legislator is on one of the committees.… Read More »Please do not vote to eliminate the ADHC benefit for the frail elderly.

No Rough Approximations in Michigan

Should I avoide going to Michigan? Probably yes… But should I ever have to go to Bay City, MI –  I’d better have my GPS on at all times. Or something bad can happen to me – like with Bay City, MI resident, who tripped and fell on a sidewals and has lost his lawsuit against the city because he gave the wrong location. He trip and fall and informed the city of the bad sidewalk, but the case was rejected because he said that the accident occurred on NE corner, where it was actually on NW corner. The court of appeal dissmissed the case, saying:… Read More »No Rough Approximations in Michigan

Businesses Hit Hardest by the Recession

According to Insurance Journal, that has contacted independed agents across the nation, the following is the list of businesses hit hardest by the recession: – Construction and related trades – Restaurants – Retailers – Printers – Manufacturers Contrary to that, there are industries that have picked up: – Grocery stores – please tend to buy food and cook more than go out – Cheap eateries – Hospitality business

Sea is Rising – Rush for Flood Insurance

Rising seas spurred by climate change could threaten 180 U.S. coastal cities by 2100, a new study says, with Miami, New Orleans and Virginia Beach among those most severely affected. If you have anything related to a coastal property, or even inland, by the river or lake, it’s time to review your Flood Insurance needs. Call us 650-353-5868 to get an instant quote over the phone

Pay-As-You-Drive Insurance in Washington

Washington is considering a proposal that would allow drivers’ insurance rates to be based primarily on the number of miles driven per year. Supporters of the pay-as-you-drive bill, Senate Bill 5730, said pricing insurance per mile is more equitable because low-mileage drivers would no longer subsidize high-mileage drivers, and drivers would be incentivized to drive less and save money in insurance, fuel, and vehicle maintenance costs. That subsequently would reduce accidents, congestion and pollution, they say. The bill also suggests that if an insurer decides not to file a mileage-based rate plan, then it would be required to offer a… Read More »Pay-As-You-Drive Insurance in Washington

Workers Comp Guide For Business Owners

The Hartford Financial Services Group, Inc. has introduced an e-learning guide designed to clarify and simplify workers’ compensation insurance. The Hartford developed the new online resource for business owners and others involved in buying workers’ compensation coverage as part of the company’s focus on the protection and planning needs of small businesses.

SPA and Pool Insurance Coverage in Texas

CNA’s Spa & Pool Contractors Program (SPLASH) has been expanded to the middle market segment in Texas. CNA’s SPLASH program offers coverages for an array of customers, including builders or installers of swimming pools, spas and hot tubs as well as pool plasterers; and for service, maintenance and repair work (i.e., cleaning, painting, resurfacing, winterizing, etc.) done exclusively for the swimming pool, spa and hot tub industry. Retail and wholesale operations which meet this criteria are also eligible within the Middle Market program. CNA recently earned the endorsement of the Northeast Spa and Pool Association (NESPA), an organization with more… Read More »SPA and Pool Insurance Coverage in Texas

New Exclusive Program for Jewelers

A new jewelers block insurance program from the Chubb Group of Insurance Companies will be offered country wide to qualified retail agents, brokers and wholesalers. To be branded and marketed under the Jewelers unBLOCKed name, the program will address the exposures of the jewelry industry, including retailers, custom designers, wholesalers, remount events, manufacturers and refiners. Currently insurance for jewelry stores, manufacturers, wholesalers and distributors, as well as repair shops, including kids jewelry is available from Hartford, Travelers, Zurich, CNA and many more insurance companies. To get a quote visit our website: ppls