It is common for the Human Resources person at a workplace to pass out new forms every year during open enrollment, requiring every employee to indicate their personal information and that of their spouse and children, as well as the health plan they are choosing, the primary care physician, etc. It seems that there is always a question that cannot be answered immediately so these forms are set aside to complete later. Sometimes, later is after the deadline
I usually avoid the use of clichés, but this one is just too obvious to ignore: “An ounce of prevention is worth a pound of cure.” Ben Franklin was certainly right, though I doubt he imagined he would ever be quoted in Rescue Magazine 250 years later! However, when it comes to preventing losses before they happen, he was extremely sage. The amount of money that is lost on insured claims may be huge. Additionally, they are typically a time waster, exacerbated by the work and energy that must be expended to even file a claim. Such possible expenses to the ministry include
In the 30 years of my professional career in risk management and insurance, I have never come across an issue as divisive as the debate over National health insurance. I will admit, right up front, that I am an opponent to the idea. Categorically, I am one of those conservatives who are prone to side with Thomas Jefferson who was quoted as saying, “The role of government is to do for society what society cannot do for itself.” Likewise, I am apt to quote what was printed in the monthly periodical
Preventing Mortgage Fraud – and the Subsequent Claims In our Professional Liability department, we have seen the lasting impact the continued weakness of the real estate market has had on our many Title Industry Errors and Omissions clients. While there seems to be a light at the end of the tunnel (finally!), the long term impact on the underwriting of these policies will be felt for a long time. Many of our insured attorneys engaged in real estate law practice have also been impacted by the real estate “bubble” and subsequent “correction”. In recent years we have seen mortgage fraud
The MERRIAM INSURANCE AGENCY is part of an elite group of independent insurance agencies around the United States participating in the Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) “Best Practices” Study Group. Each year since 1993, IIABA and Reagan Consulting, an Atlanta-based management consulting firm, join forces to study the country’s leading agencies in six revenue categories.
Most leaders have no idea whether or not their business or organization carries enough liability insurance. Many tell me, “I have an umbrella, so that should be fine,” and then end the discussion there. Even those who give the size of their umbrella some thought may not fully appreciate the size of injury payouts. If you fit into this category of “umbrella purchaser,” you probably have
As consumers in a distressed economy, we have all found, and continue to search for, ways to cut costs and save money. Prior to spending a hard earned dollar, we take a closer look at the value of what it is we are purchasing. When it comes to your insurance needs, determining the value of the product and service you are receiving versus the cost can be difficult. A couple examples to consider: • Over the past several years, as E&O premiums have continued to increase,
According to a recent U.S. Fire Administration study, on an annual basis, fire departments across the country are called to 360,900 fires, resulting in “2,495 deaths, 13,250 injuries and $7 billion in property losses.” This research also found that residential building fires peaked between 5:00 to 8:00 P.M., typically while people are cooking dinner. What can be done to reduce the likelihood of a death, injury or property loss as a result of a residential fire?
Here are a few tips from North Creek that might help: • Bundle your policies. Most insurance carriers give a discount for having both your home and auto policies. • Take a defensive driving class to reduce your auto premium. If you take this class, you will see a 10% discount off the collision, liability, and personal injury protection premiums on your policy, especially if you have a new driver in your family. This is a great way to save money
An Exchange is a New York State marketplace where small business employers, sole proprietors and individuals may shop for health insurance plans. The Exchange is an addition to your current health insurance options. There are two parts to the Exchange: 1. the Small Business Health Option Program (SHOP) 2. the sole proprietors and individuals program (Individual Exchange) The Exchange is a means of shopping