By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Vice President/Media Editor Insurance policies contain conditions for how and when claims must be submitted. There are also state requirements and timeframes for filing claims. Statutes of limitation determine the maximum time for bringing causes of action or lawsuits after an event. Some statutes, […]
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Vice President/Media Editor Power outages can happen at any time, but they are especially dangerous during cold weather. In February of 2021, the entire state of Texas lost power, and some areas were out for an extended period. Home generators can literally be life savers, […]
The hustle and bustle of the holiday season is upon us. Unfortunately, con artists are also out in full force. The Federal Trade Commission (FTC) reports that consumers lost nearly $8.8 billion to scams in 2022. This represented a 30% increase over 2021 (ftc.gov). Some reports have the number as high as $10 billion. Scams […]
MSO, Inc. has launched a new phase in support of its mission to, “provide educational services to the property & casualty industry for the continued education of insureds, agents/brokers, and insurance carriers and their staffs.” The channel, provides information on timely, relevant insurance topics in an entertaining video format. Presently the channel contains: · Underwriters’ Corner – […]
While hot tubs, saunas, spas, and whirlpool or jacuzzi baths can be fun and relaxing, there are also hazards. According to the Consumer Product Safety Commission (CPSC), hot tub accidents are the cause of over 300 deaths per year in the United States. More than one fifth of these involve children under the age of […]
Properties with shared ownership, such as homeowner and residential and commercial condominium associations, pose special challenges for unit owners and their insurance companies. Damage to property in common areas in such an association may end up being the responsibility of the unit owner. Loss assessment coverage can help in these cases, but it has limitations. […]
Inflation affects all of us, including our insurance. Claim expenses and premiums rise, and costs to repair and replace property and vehicles also increase. Helping clients understand how inflation impacts their insurance, and provide ways to cope with the changes, is another value-added service of the professional insurance agent. The insurance industry is impacted by […]
The United States is currently experiencing the worst drug crisis in its history, believed by many to have been exacerbated by pandemic lockdowns and increased trafficking at our borders (cfr.org). The crisis impacts individuals, families, and society as a whole. Helping clients understand the prevalence and dangers of drug overdoses is another value-added service of […]
Summertime brings thoughts of swim parties and barbecues. Pools are costly to maintain, and frequently underutilized. Advancements in technology have allowed owners to match up with potential renters, earning income from allowing others to use their pool. These arrangements are not without drawbacks. Helping clients understand exposures and possible risks of renting their pools and […]
Active shooter cases continue to be in the news. These events can happen anywhere, at any time. Exposures and losses usually extend beyond coverage provided by traditional insurance products. In response, insurers have introduced programs to help mitigate these vulnerabilities, both for prevention of attacks and support after an event. Helping clients understand and address […]
A Beacon International Group, Ltd. Member
