As the days get shorter and the thermometer drops, we naturally start thinking about what we are going to do to keep warm this winter. With the cost of heating oil, propane and natural gas taking a bigger bite out of the family budget, many people are thinking about using...
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Controlling Health Insurance Costs
Despite the declarations of politicians, statistics show the cost of health insurance continuing to rise dramatically. Newton’s third law of physics, “for every action, there is an equal and opposite reaction,” applies in economics as well as physics. As our government continues to make “free services” available along with reducing payments, the costs are showing up in other areas. Quite simply, insurers are passing along the cost to the person who writes the checks. “Value-Based Purchasing” (kind-of a reverse version of pay-for-performance) and “Reduced Payments for Hospital Readmissions” are the two most
Glossary of terms associated with a Merriam Auto Policy
The following are terms are associated with an Automobile Policy at Merriam Insurance Agency. Liability: A person’s responsibility to another for injury he/she caused or damages he/she caused to another’s property. Bodily Injury: Your insurance company will pay for Bodily Injury to another that you are legally responsible for because...
Benefit Advisors: Educating Employers and Employees
There is a need to help employers and employees understand the changing landscape of benefits and the way in which they are funded. An increase in the offering of consumer-driven health care products has not translated into increased understanding on the part of consumers, thus exposing a greater need for educational tools and assistance from benefits professionals. The role of educating employers and employees lies with the benefits adviser.
An Ounce of Loss Prevention
Many of us carry some type of insurance to deal with accidents and catastrophic loss. Finding the right combination of coverage is crucial for protecting your personal and/or business assets. The Merriam Agency takes pride in our ability to offer clients the coverage they need in order to achieve their protection goals. Finding and keeping an insurance plan, that is both comprehensive and affordable, is our top priority for our clients.
Is Your Errors & Omissions Policy Canceling for Non-Payment?
We frequently see policies going into cancellation for failure to make the scheduled payments. For those of you who have a professional liability policy, this is a serious issue, and it is critical that you understand the impact it may have on you and your business.
Leak Prevention
Attention to water leaks always gets the highest priority in my house. I would rather stop a leak than pay for damage caused by one. The most common leaks originate at roof openings for vent stacks, chimneys, skylights, or other similar items protruding through the surface. Grab a ladder, someone to cheer you on and go fix that leak.
A Message from the President
I remember our inaugural newsletter of 1991 in which the headline read, “We’re 100 Years Young.” The following words were in the body of the Message from the President, “Change happens quickly now, and those changes directly affect your insurance coverage. It’s our responsibility to make sure that your insurance...
Merriam Insurance Agency Acquires Latham-based Corporate Benefit Planning
Schenectady-based Merriam Insurance, which announced the deal on Tuesday, did not disclose financial terms. The acquisition closed the previous Monday. Corporate Benefit Planning is located in Latham, NY. Carol Bowman, prior Manager of CBP, said, “We strongly believe that The Merriam Agency will continue the personalized and excellent service we have provided to our valued clients and we are pleased that The Merriam Insurance Agency is available to provide … an expanded service and product line.”
Do You Know Your Retro Date?
The retroactive date on your policy specifies the earliest point in time that your insurance policy will provide coverage. This is also known as your prior acts coverage. Your professional liability policy is written on a claims made basis including a retroactive date. This means, in order for coverage to apply, the claim must be made and reported to the insurance carrier during the policy period and must have occurred after the retroactive date on your policy.