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Insurance Coverage

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

Paperless Insurance Now Offers Coverage in New York

SAN FRANCISCO-based independent insurance brokerage Paperless Insurance Services (PIS INC), Inc. has started offering business insurance products in the State of New York, PIS INC announced Thursday. PIS INC will be using their website as the marketing and underwriting base in the State if New York CFO Diana Motseniat said in her announcement. Paperless Insurance also announced that it is in the process of starting operations in the State of Texas. “Starting operations in New York is vital to the continued expansion of our U.S. platform to complement our strong position and build a truly unified small business insurance platform,”… Read More »Paperless Insurance Now Offers Coverage in New York

Fire Safety Checklist

This inspection sheet should be completed at home by the entire family.  Inspect each area of your home to make sure no fire hazards exist. We have ___ smoke alarms in our home. The last time we replaced the battery in our smoke alarm was __/__/__.  It must be replaced once a year. We test our smoke alarms monthly. We never use the batteries in the smoke alarms for toys or anything else. We have a home escape plan. Our plan includes two ways out of every room. Our family has a special place to meet outside if there is… Read More »Fire Safety Checklist

Insurance for Homeless Shelters

 

General Liability premium generally starts from ~$350 per bed per year when no detox services are provided and ~$700 per year with detox services provided. Applicable tax and fees extra. To get started send the completed Application (PDF 0.8MB) to the email indicated on the first page of the application and include: 

• Copy of current General Liability and Professional Liability insurance Declarations Page
• 5-year previous carrier loss runs, valued within the last 45 days
• Copies of State Inspections, Complaint Investigations, and Facility License

Paperless Health & Human Services Program includes insurance designed for homeless shelters – those hard-to-place risks that serve the immediate needs of others by providing food, shelter, clothing, and safety. As the cold air encroaches and the icy season is in full swing, it is a good time to reflect on our own blessings and how we can help others in our communities.

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So. California to permit alcohol tastings in stores

The Corona City Council voted 3-2 on December 12, 2011 to allow free instructional alcohol tastings in the retail businesses. Sam’s Club and Albertsons asked the city to allow alcohol tastings in their stores. The Riverside Press-Enterprise says there must be tasting areas that prohibit underage drinking. And there are other restrictions: No more than three tastings per person per day of one-fourth of an ounce of alcohol, one ounce of wine and eight ounces of beer. The state Department of Alcoholic Beverage Control will issue instructional tasting licenses and a city planning official and police will review store applications.… Read More »So. California to permit alcohol tastings in stores

CONTRACTS: TURN PAIN TO GAIN

Use contracts to effectively manage working relationships and protect your business interests. If hearing the word “contracts” makes you groan, you’re not alone. Many small business owners – particularly Specialty Trade Contractors – have told us that contracts and their impact on insurance are, to put it bluntly, a pain. But, having contracts in place with customers, subcontractors and suppliers can actually be a relief when questions pop. TOP 5  CONTRACT TIPS CHECKLIST Keep these important tips in mind before you enter into a contract: 1. ALWAYS READ A CONTRACT CAREFULLY – never skip the “fine print” because it may… Read More »CONTRACTS: TURN PAIN TO GAIN

Special Event Insurance by Travelers

The Protector Plan for Events, underwritten by Travelers, has been expanded to go beyond weddings and deliver specific coverages for private special events including parties for anniversaries, birthdays, sweet sixteen celebrations, baby showers, holiday parties, retirements and many others. Consumers planning special events can now purchase the no-deductible Protector Plan for Events from Travelers starting at $160*. The Protector Plan for Events provides coverage for many problems such as certain severe weather causing event cancellation or postponement, transportation shutdowns, lost deposits, and other headaches that can ruin the anticipated celebration. Consumers may also have the option to add liability insurance… Read More »Special Event Insurance by Travelers

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

Keep jewelry OFF the Homeowners policy, here’s why..

If jewelry is on HO: The impact of a jewelry claim is serious! Jewelry loss counts as HO loss. Jewelry losses hit CLUE and PILR reports. Client loses homeowners’ “claim free” rating. HO policy is difficult to re-market after a loss. “Mysterious disappearance” claims, in particular, are red flags. HO policies have capacity limitations. Many HO carriers will not cover higher-value jewelry. HO policies will not list non-family members with “insurable interest.” NOTE: 70% OF PERSONAL PROPERTY THEFT LOSSES ARE JEWELRY Want to get a quote for your Homeowners’ Insurance? Visit our website or call 877-239-0067.

Interesting Industry News

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 years of experience, and 6 month of special classes. May be NY policy can spend a little more time educating their officers about laws and best arresting practices? Allstate’s April-May Catastrophe Losses Top $2 Billion. Once I arrived to the… Read More »Interesting Industry News