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"Commercial Property"
Now that the yearly task of filing personal taxes has passed, this is an opportunity to discuss another type of filing for businesses that occurs every year – the workers’ compensation and general liability audits. In comparison, insurance audits and filing taxes are similar in that both are mandatory, annually. The workers’ compensation and general liability audits are conducted at the end of each policy period to verify that the premium is correct for the exposure during the policy period. In the event there is a claim, the claim might be denied because the premium exposure for the policy term within the policy period where the claim occurred was underinsured. Continue reading
PRIVATE flood insurance options are increasingly available in some states, but consumers should make sure they understand the fine print before choosing one over a federal policy.
Typical homeowner insurance policies do not cover flood damage; consumers must buy special coverage. Most residential flood policies are sold through the National Flood Insurance Program, administered by the Federal Emergency Management Agency. The program was created in 1968, when it was difficult for private companies to insure flood risk at rates homeowners could afford. Continue reading
Many states have enacted legislation that requires claimed defects on homes built to be reported to the builder in an effort to try and reduce the amount of Defect Lawsuits. What is being called the “right to repair” allows a builder to address the homeowner’s claimed defects and then repair the defect rather than being brought to court. The “right to repair” provides an avenue to the homeowner to seek repair on their home without having to open a lawsuit. Continue reading
Connecticut Bookmaker Gets Prison Time in Insurance Fraud Scheme
A bookmaker who pleaded guilty to charges he shot a gambler with a stun gun and tried to burn down a Middletown restaurant in an insurance fraud scheme is headed to prison.
The Hartford Courant reports 52-year-old John Barile of East Hartford was sentenced Tuesday to 71 months in federal prison. He pleaded guilty in February to charges of arson, insurance fraud, gambling and extortion. Continue reading
June was supposed to have been a triumphant month for Walt Disney Co. theme parks, with the flashy opening of a long-planned resort in Shanghai and a new Florida attraction based on its wildly popular animated movie “Frozen.”
Instead, the company is facing a public relations crisis and the possibility of legal action after an alligator snatched and killed a toddler at the Walt Disney World resort in Orlando, Florida, legal and communications experts said Continue reading
When a 400-pound gorilla grabbed a 3-year-old boy at the Cincinnati Zoo, the sharpshooter who killed the ape wasn’t from the police. Instead, the shooter was a specially trained zoo staffer on one of the many dangerous-animal emergency squads at animal parks nationwide. Continue reading
Summer has arrived in Las Vegas, with temperatures already reaching over 100, many families are headed to the pools to cool down. If you are lucky enough to have a pool in your backyard there is an added responsibility not only to maintain the pool, as well as safety must haves, and best practices to implement. Sadly, over 200 young children will drown in a backyard pool this year. Continue reading
The Centers for Disease Control and Prevention (CDC) estimates that one-in-six Americans gets sick every year from contaminated food or beverages. Those in the restaurant industry cannot ignore the risks. The recent chain of events that roiled Chipotle Mexican Grill has given one insurance broker the perfect opportunity to talk about needed coverage options with clients. Continue reading
