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Finally, California Workers Comp. Rate Decrease

The Workers’ Compensation Insurance Rating Bureau of California on Thursday said it will call for a pure premium rate decrease of 1.8% under a new loss cost calculation method. If adopted by California’s Department of Insurance, the suggested rate decrease would take effect Jan. 1, 2010. The new rates the WCIRB is proposing for about 500 industry classifications are projected to average $2.33 per $100 of payroll. That is 1.8% less than the corresponding average of insurer-filed pure premium rates as of July 1, 2011, it said. But although the WCIRB is recommending a pure premium rate reduction, it also… Read More »Finally, California Workers Comp. Rate Decrease

Pollution Liability Insurance Online by Navigators

The Navigators Group Inc. and its principal underwriting agency subsidiary, Navigators Management Co. Inc., expanded its online system for contractors pollution liability insurance. New enhancements to the online platform include options for affirmative coverage for fungus/mold caused by negligent contracting operations; increased available limits up to $2 million each occurrence / $4 million all occurrences; and an increased revenue threshold for eligible contractors up to $10 million in annual contracting receipts. The online system targets small- to medium-sized service and trade contractors and can accommodate over 70 different contracting categories. Policy premiums with fungus coverage can start under $600 (plus applicable fees… Read More »Pollution Liability Insurance Online by Navigators

Five Back to School Carpooling Tips

It’s time to go back to school! Consider these valuable back-to-school carpooling tips as you pile the kids in the car and take them to school. Meet with your fellow carpoolers. Get to know your fellow carpoolers to gauge how responsible of a driver they are. Use that time to establish some ground rules in terms of pick-up and drop-off times so everyone is on the same page. Make sure all passengers are buckled-up. Before driving away, make sure all adults and children in the car have a fastened seatbelt. Never let kids share a seatbelt and never transport children in the… Read More »Five Back to School Carpooling Tips

Travelers New Commercial Auto Endorsement CAT4200710 edition

I m a g i n e   T h i s : You own a small consulting firm. One of the employees has a meeting with one of the firm’s most important customers located across town. The employee decides to use his own personal car to get there. While en route to meet the customer, the employee runs a red light and injures a pedestrian crossing the street. Unfortunately, the employee’s personal auto policy did not fully cover this loss. Luckily, you purchaseв the Select Auto CoveragePlus endorsement along with liability coverage for any auto under your current Travelers… Read More »Travelers New Commercial Auto Endorsement CAT4200710 edition

Simple Ways to Protect Private Information

Use different passwords for your login accounts. Hackers know that it’s very common for people to use one password consistently. So, make sure your password varies. Also, avoid including words or information in your passwords that someone could easily derive. For example, don’t combine the name of the street you live on with your birthday. Recognize “phishing” attempts, avoid them and report them. “Phishing” is when you’re on the web and someone poses as something legitimate—friend, family member, government entity, bank or other trusted organization—in order to draw personal data from an unsuspecting person. Phishing can occur via text messages,… Read More »Simple Ways to Protect Private Information

Employment Benefits Become Less Affordable

Almost all employers admitt their employees need help in making benefits decisions and education to make changes in their benefits programs according to a survey taken at the recent Society for Human Resource Management conference. The survey, conducted by Colonial Insurance Company, also found that a little over half employers plan to increase employees’ share of health insurance premiums, while nearly half are increasing deductibles and co-payments in response to the rising cost of health care.

Love your neighbor, Help your neighbor

State Farm and consumer research firm Harris Interactive surveyed more than 17,000 people about the state of American neighbors and found that 83% are willing to help a neighbor having financial problems. Every second person said that neighbors affect his or her happiness! Here is a brief summary of our staff advise on how to get closer with your neighbor and develop human mutual aid companionship: – Do your best to know at least a fair amount of your neighbors by name – If needed help a neighbor look for a job – If needed cook meals for neighbors –… Read More »Love your neighbor, Help your neighbor

$500K+ for Fake Death

A Southern California man and his wife were arrested Monday on suspicion of faking the man’s death, so their family could get life insurance and other death benefits. The couple somehow managed to produce Mexican authentic death certificate that declared the man had died. Since 2004, the wife and her four children have received more than $500,000 in Social Security and union benefits, as well as some undetermined-yet amount from life insurance payments.

California Earthquake Authority (CEA) sells $150M catastrophe bond

SACRAMENTO, Calif.—The California Earthquake Authority said it has sold the first earthquake-only catastrophe bond issued without using reinsurers, and it plans to return to the market every four to six months for as long as investors show interest. The CEA, a publicly managed but privately funded organization that writes 70% of all residential earthquake policies sold in California, said it had entered into a reinsurance contract with Embarcadero Reinsurance Ltd. The Bermuda-based special-purpose reinsurance vehicle, which was established for such CEA arrangements, then sold $150 million in three-year catastrophe bonds to investors. The money, which the CEA said “is the… Read More »California Earthquake Authority (CEA) sells $150M catastrophe bond