Posted December 20th, 2009
by admin
There are several perks to renting instead of owning, one being the lack of responsibility renters have compared to homeowners. When you don’t actually own the property or space in which you live, you don’t have to worry about structural maintenance and insuring your home for everything that could possibly go wrong. Luckily for renters, their landlord most likely owns a masters insurance policy that protects the structure you live in as well as any common living areas of condo buildings. What many renters need to be aware of however is that master insurance policies do not cover every little thing within the structure.
Necessary protections you need as a renter that is not included in master policies include content and liability coverage and external living expenses. If
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Tags: Renters, Renters Insurance Posted in Insurance Quotes
Posted December 20th, 2009
by admin
Sitting proudly on the calm blue waters of the Adriatic Sea, Dubrovnik is one of the world’s most magnificent fortified cities and a UNESCO world heritage site and Croatia’s most upmarket destination. During its Golden Age in the 16th century, it had one of the largest merchant naval fleets in the world, with consulates in over 50 foreign ports. Read on to find out more…
When to visit:
The best time to visit is in May-June or September-October to enjoy warm, sunny days with slightly less crowds. During the peak season between July-August, Dubrovnik is busy and hotel prices can be expensive. T Read more…
Tags: Dubrovnik Posted in Insurance Quotes
Posted December 18th, 2009
by admin
With the holidays upon us, everyone is looking for the perfect giftâespecially for their children or grandchildren. US News and World Report published an article on its website listing six financial gifts you can give a child that will make future holidays even brighter than this one. Hereâs a quick summary of what author Emily Brandon suggested:
A 529 plan: This is a college savings planâeither a prepaid tuition plan for a specific college or an education investment account.
A Roth IRA: If your child is working and earning an income, you can put âmatchingâ money into a Roth IRA, up to $5,000. The money grow
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Posted in Insurance Quotes
Posted December 15th, 2009
by admin
During this soft market, insurance agent claims are probably not top of mind, but they can come unexpectedly and obviously impact insurance agents E&O (professional liability) coverage. A recent article in Insurance Journal (see here) points to some frequent causes of insurance agents claims and provides a reminder of some common ways to prevent the claims.
Typically, claim frequency declines somewhat during a soft market because insurers offer broader coverage and accounts tend not to move with coverage reductions. During a hard market, underwriting changes can force some insureds to move to insurers with more restrictive coverage and other insureds to accept reduced coverage. This can lead to unexpected claim declinations, which in turn can lead to insurance agent E&O claims.
This article is a good reminder – short and to the point – and probably should be read by agency personnel. Some key points:
Frequent Causes of claims against insurance agents:
- Inaccurate recommendations
- Policy change, application and renewal errors
- Risk assessment errors
Preventive Measures:
- Clear internal communications
- Personnel training – both product knowledge and internal procedures
- Limits guidelines
- Standard checklists
- Coverage rejection acknowledgements
Coverage rejection acknowledgements are particularly important for employment practices liability insurance (EPL). We have seen all types of insurance agents E&O claims at Mercator because of our large Insurance Agents E&O practice, including the failure to offer EPL coverage. Other types of claims are relatively simple, like failing to make sure a claim notice was properly forwarded to an insurer, and some are more complex. Claims examples are worth reviewing (see here).
Exposure to insurer insolvency does not get much attention now as the market is soft and there have been few insolvencies. However, this can change fast if the market hardens due to poor results. Insurer insolvencies can impact both insurance agents E&O and insurance agents E&O underwriters (see here).
Tags: Claims, Insurance Agents Posted in Insurance Quotes
Posted December 14th, 2009
by admin
Generally skiing holidays can be quite expensive; especially by the time you’ve hired your ski equipment, bought your lift pass and arranged your flights/ accommodation. We’ve made it easy for you with our top budget destinations to ensure you get your skiing fix without breaking the bank.
Borovets, Bulgaria
Bulgaria has for some time been something of a bargain ski destination, and none more so than its oldest and biggest ski resort Borovets. Situated outside the eurozone means that Bulgarian prices are much cheaper than some of the more glamorous Alpine resorts. B Read more…
Tags: Holidays Posted in Insurance Quotes
Posted December 14th, 2009
by admin
Imagine paying absolutely no federal estate tax. It was âalmostâ a reality.
I say almost because the estate tax was due to disappear in 2010, unless Congress took action, which it did (and still is). On Dec. 3, the House of Representatives passed H.R.4154, which would permanently freeze the estate-tax exemption at $3.5 million, and the estate-tax rate at 45%. The senate is poised to follow, but time is quickly running out.
But if you think about it, zero estate tax is certainly an unlikely tax policy in this budget-hungry environment, when the government is looking in every corner for ways to pay for programs. The g
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Posted in Insurance Quotes